The GBP/USD pair fell during the session on Friday, breaking the bottom of the hammer from the Thursday session. Because of this, we think this shows significant weakness, and that the 1.55 level will more than likely offer a bit of resistance at this point. Signs of a failed rally near that level, or even a move below the lows from the Friday session has is aiming for the 1.5250 handle in the short term. We suspect that there is a significant amount of support there, but it wouldn’t completely surprises to see markets plunged through that area and aim for the more significant 1.50 handle.
Written by FX Empire