GBP/USD fell for most of the session on Tuesday to form a bearish and red candle. However, the pop at the end of the day also made a bit of a hammer. It is at the top of the recent range, so the candle can be a great signal of continued pressure to the upside. If we get above the 1.60 level on a daily close, we would be buyers of this pair. The overall sentiment in our opinion is bearish, so a break of the bottom of the candle would turn it into a “hanging man”, and we will not hesitate to sell it.
Written by FX Empire