The GBP/USD pair fell during the session on Wednesday, and in fact many stood Pierce the 1.5250 support level. We now have a situation where shorting this pair is possible, but only under the 1.52 level. Until that happens, we would be very hesitant to sell, as we see such potential for support here. Nonetheless, we would take that trade should become. On the other hand, we don’t see a supportive candle at the moment in order to start buying, which if we were to see one here we wouldn’t hesitate to take that either. In other words, we are simply ambivalent and on the sidelines waiting see what the market tells us to do.
Written by FX Empire