The GBP/USD pair fell hard during the session on Friday, closing at the very lows of the day. However, you can see that we are approaching the 1.60 handle, an area that should be rather supportive. That being the case, we are not ready to sell, and as a result we are actually waiting to see if we get some type of supportive candle in this general vicinity as it would be an excellent entry area. However, we recognize that with a strong close to the downside, it is possible that we could break down a bit farther than the 1.60 handle, and have to look for that supportive candle at even lower prices.
Written by FX Empire