The GBP/USD pair went back and forth during the session on Thursday, but as you can see we still see the 1.60 level as being supportive. The support area does offer a potential buying area, but we need to see some type of supportive candle in order to do so. We don’t really have the right set up right now, so although we think this pair continues to go higher, we believe that ultimately this market will breakout to the upside as well, so we are definitely buyers only in this market, as opposed to sellers.
Written by FX Empire