The British pound initially fell during the day on Wednesday as the Article 50 was triggered, but quite frankly it looks as if the market doesn’t care. We had initial selling pressure during the day, but you can see that we turned around to bounce a bit. I believe that if we can break above the top of the candle for the session on Wednesday, this is a very strong sign for the British pound. I have no interest in selling, as I believe there are far too many supportive levels just underneath. I believe longer-term that this market goes much higher and will eventually break out to the upside.
Written by FX Empire