The GBP/USD pair fell dramatically during the session on Tuesday, parking at the 1.51 level. This candle is very negative, and closes at the very bottom of the day’s range. With that being the case, we think that more weakness is more than likely going to appear, but we do also recognize that the 1.51 level is relatively significant as support, so a bounce could come first. We are still negative when it comes to the British pound, and look at a break down below the 1.51 handle as a reason to start selling again, or any type of rally that fails during the session.
Written by FX Empire