GBP/USD moved higher and above the 1.60 level during the Thursday session as the risk trade came back on. The Greeks have dropped their referendum ideas, and this was accepted as a good sign. However, the pair is still within the consolidation area, and we feel that it still looks a bit on the toppy side at this point. We are waiting to see the reaction to the Friday Non-Farm Payroll session in order to place a trade. Above 1.60 – we like buying, a close below it – we would like to sell.
Written by FX Empire