The GBP/USD pair broke out above the 1.5750 level on Wednesday, an area that we suspected was going to be very resistive. With that being the case, we feel this market will continue towards the 1.6 handle now, and is very little between here and there that’s going to slow it down. Expect momentum to pick up as we go higher, and as a result we are buying at this moment. We think that the 1.5750 level will be extremely supportive going forward, and therefore are willing to buy dips down to that level as well.
Written by FX Empire