The GBP/USD pair exploded to the upside during the session on Monday, but remains stuck just below the 1.6450 level yet again. This area is going to be a bit of a difficult area to get through, but eventually we feel that the market does in fact go higher. Because of this, we are buyers on pullbacks, and most certainly a buyer on a daily close above the aforementioned 1.6450 handle. Alternately, we think this market heads to the 1.65 level, and then 1.70 before it’s all said and done as the British pound continues to be very bullish.
Written by FX Empire