The GBP/USD pair fell during the session on Thursday, closing below the recent range that has been focused on the 1.55 level. The market appears to be bearish at the moment, but the longer-term action has been more positive than anything else. The 1.54 level looks to be supportive, so we aren’t selling, and quite frankly are looking for supportive candles in order to go long of the British pound. The pair should continue higher going forward, and this will be especially true if the markets can retain their bullishness. As for selling, we would have to see the market close significantly below the 1.54 level in order to do so.
Written by FX Empire