The GBP/USD pair fell during the session on Tuesday as the Pound considered to whiter. This pair is certainly one that has been pounded over the last several weeks, and as a result we haven’t been buying even though the market looks well-supported in this general area. The 1.50 level out there is certainly one that will cause a lot of traders to look for support, but with the run to the US dollar we have seen lately, we think we are only one bad headline from seeing more money converted into USD. We are sellers of rallies.
Written by FX Empire