The GBP/USD pair tried to rally during the session on Friday, but as you can see the 1.60 level offered far too much resistance, creating a shooting star for the day. The shooting star is very negative looking, but we think that this weakness will more than likely be a pullback and nothing else. That pullback should offer a buying opportunity going forward, and as a result we will buy supportive candles that are closer to the 1.60 handle. On the other hand, if we managed to break the top of the shooting star, we think that’s a very bullish sign it would have to start buying there as well.
Written by FX Empire