The GBP/USD pair rose during the session on Wednesday, but as you can see found quite a bit of resistance of the 1.5250 handle. This is an area that we had anticipated seen resistance that, so the move doesn’t really surprise us much. However, the candle is a little bit too bullish to start selling at this point in time, so we are on the sideways waiting for a nicer sell signal. In the meantime, we simply sit here and watch but do recognize the fact that if we can breakout above the highs from the Wednesday session, we could very well start heading towards the 1.55 handle.
Written by FX Empire