The GBP/USD pair rose during the session on Friday, breaking above the recent high that we had formed on Wednesday. Now that we have clear the 1.5250 handle easily, it appears that we are heading towards 1.55 before it’s all said and done. A break the highs of the Friday session, we are bombing and heading towards 1.55 for the short term. Far as selling is concerned, we have aptly no interest in doing so right now because we’ve seen so much bullishness lately. We expect 1.55 to be rather resistive though, so this is more or less a short-term trade.
Written by FX Empire