The GBP/USD pair fell rather sharply during the session on Tuesday, as the 1.5250 reaching yet again caused quite a bit of resistance. This pair looks like it’s ready to continue lower, and as a result we think that selling the rallies on the short term charts will continue to be the way to go forward for the foreseeable future. We also believe that the 1.50 level will be targeted, and as a result we are not buying this pair at the moment. We still believe that the 1.5250 level will offer selling opportunities as we bounced back towards it, and we do expect the move lower will be more of a grind, rather than some type of swift move.
Written by FX Empire