The GBP/USD pair did very little during the session on Monday, as the rest of the currency world bounced around quite a bit. However, what’s interesting is the fact that this market could not gain traction, and because of this we think that the move lower is coming. We see this market as potentially going sideways for the time being, and we are at the top of the consolidation as far as we can tell. Because of this, we are not buying this market until we can break above the 1.53 level, which we see as massive resistance. On the downside, we see the 1.4825 level as being the support.
Written by FX Empire