The GBP/USD pair rose initially during the session on Tuesday, but as you can see ran into a bit of resistance in order to pull back and form a shooting star. That shooting star suggests that we will pullback from this area, and perhaps consolidate between 1.63 and 1.6450. We think this is simply the market trying to take a little bit of a rest before breaking through the 1.65 level above, and then perhaps going on to the 1.70 level. As far as selling is concerned, we have no interest in doing so at this point in time.
Written by FX Empire