The GBP/USD pair rose during the session on Monday, showing that the 1.5250 level still offers support. Having said that, we think that this market could be consolidating at this point in time, and think that the market needs to break above the 1.54 level in order to be convinced that this point. Besides that, there is the shooting star on Friday that of course looks very resistive as well. With that being the case, this looks like a marketplace that could be somewhat choppy, and as a result we simply are not interested in it at the moment.
Written by FX Empire