The GBP/USD pair fell initially during the day on Wednesday, but turned around and found quite a bit of support near the 1.25 handle. Because of this, the market looks as if it is going to continue to find buyers every time we dip, least in the meantime. I think that we will reach towards the 1.27 level above, where we found resistance. I still think that perhaps the British pound has bottomed longer-term, and these trend changes are always messy affairs. Because of this, I have no interest in selling, but I do recognize that sellers will come back from time to time.
Written by FX Empire