The GBP/USD pair shot straight up during the session on Friday as the nonfarm payroll numbers in America came out weaker than expected. Within this chart, it appears that the clearance of the 1.53 level looks to be significant, and could see this market move up to the 1.55 resistance level. This resistance level will more than likely be a bit much to overcome, as there is so much clustering there. With that being the case, we think this is a temporary bounce and would expect to see selling pressure come into the market at this level. We will be looking for resistive candles to short in the general vicinity.
Written by FX Empire