The GBP/USD pair went back and forth during the session on Friday, in reaction to the nonfarm payroll number, and as you can see we really haven’t done much ultimately. It looks as if this market is ready to pull back slightly, but we think that the 1.62 will offer support, and we are more than willing to start buying on signs of support. Alternately, we would buy on a break above the 1.65 handle as it is the next major resistance level above current pricing. In between we would expect a lot of choppiness.
Written by FX Empire