The GBP/USD pair rose for the session on Thursday as the 1.5650 level continued to hold as support. The pair looks weak overall, but it doesn’t seem quite ready to fall yet. The level could provide a bounce, but we look at that as a possible selling opportunity. The 1.58 will continue to be resistive, and the 1.60 even more so. The breaking below on a daily close of the 1.5650 level would be a signal to sell, aiming for 1.55 and 1.53 respectively. We prefer selling, and cannot see buying until the 1.60 level is overrun.
Written by FX Empire