The GBP/USD pair fell during the session on Monday, as all “risk on” pairs did. However, the 1.5250 level offered enough support to keep the market above it. This was her previous resistance, so is interesting to see this support did in fact come into the marketplace. Also, it should be noted that this pair sold off last than many of the other ones that, so the fact that buyers could be stepping into this market would be that big of a surprise. Going forward, we will not sell this market until we close below the 1.52 level, ensuring that the support has been blown out. Alternately, if we get some type of supportive candle in this general vicinity we feel that it is a decent place to start buying the Pound.
Written by FX Empire