The GBP/USD pair fell during the session on Tuesday, but as you can see bounced enough in order to form a hammer. You are clearly above the 1.5250 level now, and as a result it looks like we may have even tested it for support. That being the case, we believe that this market is about to start going higher, and would be buying on a break of the top of the Tuesday hammer. As far as selling is concerned, we need to close below the 1.5250 level to even begin that conversation.
Written by FX Empire