The GBP/USD had a strong session on Monday, and even managed to break above the highs from the Friday shooting star. This is a very bullish sign, and we do believe that a move above the 1.62 level should send this pair much higher. It might be a bit choppy going forward, but in reality we feel that this market is breaking out presently, and will hit the 1.70 level next year. This is one of our favorite longer-term trades, and you are now seeing a pretty example as to why. Selling is an even the thought at this point time, and we will be adding to our position on a break of the highs from the Monday candle.
Written by FX Empire