The GBP/USD pair rose higher during the session initially on Monday, but as you can see pulled back in order to form a shooting star. This shooting star looks negative at this point, and as a result we feel that this market will more than likely pullback in order to stay in the previous consolidation area. Nonetheless, any supportive candle that we see below is an invitation to start buying as far as we can tell, and do recognize that a break above the shooting star during the Monday session would also have this market looking for the 1.6250 area.
Written by FX Empire