The GBP/USD pair fell precipitously during the Friday session after forming a perfect shooting star on Thursday. This was a classic technical analysis set up that had you watched our videos yesterday, you would have seen. This move was expected, as well as the support came into play at the 1.60 level.
We also expected the 1.60 level to offer support as we think this pair initially would pullback, but find buyers in the end. While we can guarantee that, this was our plan and that’s why were out of this pair already. Going forward, we like buying this pair on supportive candles right around as 1.60 handle.
Written by FX Empire