The GBP/USD pair rose slightly during the Monday session as the 50% Fibonacci level continues to hold the market up. The hammer from the Friday session had us looking at a possible buy in this pair, but we never got the nice break above the highs from that session to do so. However, the candle from the Monday session is another hammer, and the top is roughly the same as the Friday candle. This makes us even more interested in buying if we break above. As for selling, a break of the lows on both the Friday and Monday session is needed in order to do so.
Written by FX Empire