The GBP/USD pair rose during the session on Thursday as the pair gained traction from the 1.59 handle. The pair looks very healthy, but the 1.60 level is looming just above. This area is a massive resistance level, and will be difficult to overcome. The pair should continue to respect the area above, and as a result we are paying very close attention to the area. The failure to breakout above it is a clear signal to sell, albeit on the short-term. The daily close above the 1.60 level has us buying the market.
Written by FX Empire