The GBP/USD pair rose on Friday as the 1.58 level came back into play as support. The market continues to grind away at these levels, and it appears that there is a real attempt to push through the 1.60 level currently. However, we are not buying this pair until we see the market close on a daily chart above that level. It is much better to let others do the hard work, and then join on the side of the winners. If we get a break of the Thursday lows, we would sell this pair understanding it as a range bound trade.
Written by FX Empire