GBP/USD rose during the Friday session in a parabolic manner during the US session as the major banks in America were closed. This created a thin market, and the traders took advantage of it. The market is still stuck in consolidation, and at the top of that range. It looks bullish at the moment, but this pair reacts to headlines and there are plenty of them that could rock the markets still. With this in mind, we aren’t buying just yet. We would sell though, if we get a bearish candle in the 1.61 – 1.62 area.
Written by FX Empire