The GBP/USD pair fell during the session as the “risk off” trade came back into vogue. The market managed a bounce late in the day though, and it looks as if the pair still has plenty of people that are willing to go long at this point. The 1.60 level below will be a “floor” of sorts as far as we can tell, and we are only going long above that mark. However, we are doing it on dips at this point. A break of the top of the Tuesday session highs will also get us long as well.
Written by FX Empire