The GBP/USD pair rose during the Thursday session as hopes crept back into the market of a central bank intervention to support the markets – especially the Euro. The Greek elections are Sunday, and they will be by far the most important factor to the tone of the markets going forward. The central banks know this, and have stated publicly during the Thursday session that they are available to provide liquidity if it is needed. The pair looks bullish all of the sudden, but a move above 1.57 will take real strength. If we see this, we would gladly get long again. If 1.52 gives way – we would aggressively sell.
Written by FX Empire