The GBP/USD pair fell during the session on Friday, clearing the 1.5250 level again. This market looks especially bearish considering that we have broken down below the lows from the hammer on Wednesday as well. It appears now that we are heading towards 1.50 level, and although it might be a bit choppy on the way down there, we feel pretty confident in thinking that this pair is of course going to continue to fall. As far as buying is concerned, we obviously have no interest in doing so, and will treat rallies with suspicion as we look to sell resistive candles.
Written by FX Empire