The GBP/USD pair initially tried to rally during the session on Monday but pulled back as we continue to consolidate just above the 1.2750 level. Because of this, I think that a bounce will happen, but you will probably have to look for it on short-term charts. I have no interest in selling, I believe that the British pound has broken out for a longer-term move. Ultimately, I believe that we are going to go looking for the 1.3450 level above, but it’s going to take some time to get there as there is so much in the way of noise above.
Written by FX Empire