The GBP/USD pair fell and broke down below the 1.58 handle during the session on Thursday. However, we get a bit of a bounce later in the session and form to something that looked a bit like a hammer. Remember, there is a tone of support just below this area from the ascending triangle that broke out last summer. With that being the case, we are willing to buy this market on a break above the highest from the session on Thursday. Until then though, we will be on the sidelines waiting for some type of signal.
Written by FX Empire