GBP/USD rose and then fell again on Thursday as the 1.57 level held the market down again. The pair looks likely to stay in the 1.57 – 1.55 range for the short-term as the levels simply cannot be broken. With the volume almost disappearing over the next few sessions, we are very unlikely to see a serious move upwards from here that would take massive buying. We are sellers if this pair can break below the 1.5635 level. Other than that – we have no real interest in trading this pair.
Written by FX Empire