The GBP/USD pair fell after initially trying to rally to get above the 1.55 handle on Tuesday. However, this failure led to a lower low, as we broke the bottom of the neutral candle from Monday. This opens the door for a fall to the 1.50 level before it’s all said and done, and more than likely the 1.53 level in the relative short-term. Because of this, we are very aggressively short of this market, and will continue to be so until we get over the 1.56 handle. We think that short-term rallies will offer selling opportunities going forward. We think that short-term rallies will offer selling opportunities going forward.
Written by FX Empire