The GBP/USD pair fell hard on Friday as the Greek debt talks stalled again. With the UK’s exposure to the European Union and all things debt related, this pair was always going to fall in that environment. The 1.58 level continues to be a focal point, and the weekly chart printed a shooting star. This shows us that the down move should continue, and a break of the 1.57 level has us selling and aiming for the 1.53 level. The pair should continue to be soft as long as there is uncertainty in the markets, and we prefer owning the Dollar as a result.
Written by FX Empire