The GBP/USD pair rose during the session initially on Friday, but as you can see has formed a shooting star at the close. This of course signifies weakness, but we do not believe that this market going to fall apart. To be honest, we feel this market is going to fall back down towards the 1.60 handle, where will more than likely find support. We believe that we are staying in this range, and if we do not, we believe that the most likely outcome is going to be a move higher, which would be signified by a break of the 1.63 handle and have us buying.
Written by FX Empire