The GBP/USD pair fell during the session again on Tuesday, but found enough support just below the 1.5250 level to bounce and stay within the tight range that we have been in lately. Is because of this that we essentially are ignoring this pair right now, and simply waiting for some type of significant move in one direction or the other. Until we get that, this pair is going to be very difficult to trade, because it is simply slow moving at this point. Going forward, we need to see a break down below the 1.52 level to start selling, or a move above the 1.54 level has us buying. In the meantime, we feel that this will simply be a very noisy sideways pair.
Written by FX Empire