GBP/USD fell fairly hard during the session on Wednesday, cracking down to the 1.53 handle during the session. We have targeted the 1.5250 level, and as a result we are still short of this market. We expect to see the 1.5250 level offer significant support, so we will be taking profit just below current levels. Whether or not we can get below the 1.5250 level is completely different discussion, we would expect at the very least to see a bounce from that level. Quite frankly, until we get back above the 1.55 level, we have no interest in buying this pair.
Written by FX Empire