The GBP/USD pair went back and forth during the session on Friday, essentially printing a neutral candle. This neutral candle of course is sitting on top of the 1.60 handle, so it is possible that this could end up being a buying opportunity. A break of the highs from the session, we are comfortable buying, but it must be said that the weekly candle is a shooting star of sorts. Because of that we are a bit cautious but do recognize that there is significant support just below current pricing at the all-important 1.6 level.
Written by FX Empire