The GBP/USD pair fell during the session on Monday, but as you can see the 1.5250 level offered enough support to keep the market above it. This is the area that had been so resistive previously, so this looks like a simple breakout then pullback type of technical analysis move. In fact, we believe as long as we can find supportive candles along this level, we are willing to start buying again. Time frames as well as the one hour chart would be enough to get us to be convinced, and we believe that this market will eventually march towards the 1.50 level.
Written by FX Empire