The GBP/USD pair rose during the session on Wednesday, but did not break the top of the shooting star from Tuesday. It doesn’t really matter though, with nonfarm payroll coming so soon, we feel that this market is probably a dangerous one to be in based solely upon hope. However, we do feel that it is biased to the upside so pullback might be an excellent buying opportunity. We certainly feel at this point in time that the 1.60 level is supportive, so any pullback close to that area is in fact a buy signal in our opinion.
Written by FX Empire