The GBP/USD pair rose during the session on Friday, but as you can see got back below the 1.65 level in order to form a shooting star. The shooting star shows that the market is ready to pull back into the previous consolidation area, and thereby showing that the market is and quite ready to make a significant move yet. This is not a surprise however, you have to realize that there’s almost no liquidity in the markets now, so the long wicks on the candle is essentially a sign of people leaving the marketplace.
Written by FX Empire