The GBP/USD had a fairly quiet day on Friday as traders took a rest in this market after the Non-Farm Payroll number release. The 1.61 area looks like it is the start of a larger support are down to the 1.59 level. Because of this, we expect a little bit of a bounce, but this pair looks to be choppy in the near-term as far as we can tell. There are simply too many places where you can find minor support or resistance on this chart.
Written by FX Empire