The GBP/USD pair had a positive session during the Tuesday trading hours as the 1.5250 acted as support. In fact, we reclaimed almost 100% of the losses on Monday, making this a significant retest of previous resistance now turned support. With that in mind, it looks like the British pound will continue to rise against the US dollar, but we need to see a break above the highs from the Monday session in order to feel comfortable buying. As for selling, we have no plans to do so at the moment, but do recognize the fact that the longer-term trend is down.
Written by FX Empire