The GBP/USD pair fell initially on Friday but found the 1.25 level to be supportive enough to turn things around. I think the longer-term, the British pound is going to break out to the upside, so I am a buyer of this pair on the daily chart. If we can stay above the 1.24 level, I think the idea of breaking out to the upside is still very much a reality. Once we do breakout, this could be a long-term uptrend just waiting to happen as the British pound was punished so drastically for the exit vote.
Written by FX Empire