The GBP/USD pair had a slightly negative session on Friday, but it continues to stair step its way higher. Ultimately, this market does look like it’s broken out of it, but we do see several places that could cause bit of resistance to going higher. Because of this, we are somewhat cautious, but do recognize that this pair could very easily go as high as 1.55 before hitting any serious snags. As far as selling is concerned, we would have to break back down below the 1.52 level be convinced that selling is safe to do again.
Written by FX Empire