The GBP/USD pair broke down to the upside during the day on Monday, reaching towards the 1.26 handle. Ultimately, a pullback from here will more than likely find support at the 1.25 handle, and with this being the case I look at pullbacks as potential value in what should be a very strong way to the upside. However, if we break down below the 1.2450 level, the market then will drop to the 1.2250 level underneath. Ultimately, this is a market that will see a lot of volatility due to the Article 50, but I think the British pound will eventually find buyers.
Written by FX Empire