The GBP/USD pair fell during the day on Tuesday initially but found enough support near the 1.24 level to turn things around to form a hammer. It now looks as if we are trying to break above the 1.25 level, but there is a lot of resistance just above as well. I think that it is going to be choppy but I continue to buy short-term debts in this market as I believe that the markets will eventually try to reach towards the 1.27 level, but there is of course serious potential for volatility.
Written by FX Empire