The GBP/USD pair fell during the Wednesday session, but failed to break below the 1.56 level. The pair continues to look weak as the market presses against the supportive area. The candle from the Monday session is a hammer, and we think this market needs to break the bottom of the candle in order to start selling again. The 1.55 level would be our first target, and 1.53 beyond that. If the market would bounce at this point, we are looking for weakness in order to sell form higher levels as the Dollar seems to be the most wanted currency at the moment.
Written by FX Empire