The GBP/USD pair shot straight up during the session on Wednesday, slicing through the 1.60 handle again. This is without a doubt a buy signal as far as we can tell, and short-term pullbacks will be used to enter this market. We believe that ultimately this market could go size 1.6250 without too many issues, and as a result there is still plenty of room to move in this surge higher. As for selling is concerned, we have to break down below the 1.5850 handle on a daily close in order to do so.
Written by FX Empire