The GBP/USD pair fell during the session after initially trying to break back above the 1.5250 resistance level. Because of this, it feels like this market is going to start heading back down towards the 1.50 handle, which of course could be significant support based upon recent action. On the less, we do think that the British pound is a bit of trouble here, as the US dollar is suddenly favored again. As far as buying is concerned, we could do so on a supportive candle at the 1.50 handle, but right now we do not see a set up to do so. A break of the lows from the Thursday session is a sell signal for the shorter-term trader.
Written by FX Empire