The GBP/USD pair rose during the session on Tuesday, breaking above the top of the shooting star from Monday as well. Having said that, we have clear the 1.5550 level during the session, but pulled back enough to form something that looks a bit like a shooting star. However, since we broke the top of the previous shooting star, this looks more like confusion than anything else. We are closing higher than the candle on Monday, so you could say that there is a bit of a positive bias in this market, but at this moment in time we think that there is too much room for error to be long or short of this pair.
Written by FX Empire