The GBP/USD pair fell during the Monday session as the “risk off” trade came into play. It should be noted that the attitude wasn’t of panic or any such thing – it was simply calm before the FMOC statement later today. The markets were quiet in general, and even though we saw a break below the 1.5650 level, there simply wasn’t enough momentum to push price down below it for long. With this in mind, we write the day off as meaningless, and will only short if we break the lows again. Going long would be our move if we break above the highs of the session.
Written by FX Empire