The GBP/USD pair had an interesting session on Friday, as it had initially sold off drastically, but as you can see bounced hard enough to close just below the 1.65 level. The resulting candle is a massive hammer, and therefore a break of the top of the hammer has us buying this pair and sending it possibly as high as 1.70 given enough time. We believe that the market will continue to be bullish, and we also believe that the Friday candle is just another example of this. That being the case, we are very bullish of this pair and have no interest in selling it.
Written by FX Empire