The GBP/USD pair initially fell during the day on Tuesday, but shot straight up in the air as we reach towards the 1.25 handle. That’s an area that has a lot of influence, so I would expect to see sellers in the general vicinity. And exhaustive candle could be a selling opportunity but if we can get above the 1.26 level, that should be a buying opportunity as it would signal that the British pound is really starting to pick up momentum. Alternately, if we fall from there, the market should then go looking for the 1.23 level.
Written by FX Empire