The British pound rose slightly during the day on Thursday as the markets would have been fairly quiet due to the Americans celebrating Thanksgiving. At this point, there’s a lot of noise ran around the 1.25 handle, so quite frankly I don’t have any interest in trading this market. Longer-term, I feel that the market is still fairly bearish but I think there are easier ways to trade the British pound currently, so I will probably do so against of the currency such as the yen or the euro. I will keep you abreast as to what I see though.
GBP/USD daily chart, November 25, 2016