The GBP/USD pair fell on Tuesday, breaking below the 1.55 level. The market continues to grind away though, and as you can see support came back into the marketplace and push prices up a bit from the lows. In other words, although we managed to get below the 1.55 level, it’s not enough to really look like a breakdown at this point. Going forward, we feel that this market is more than likely going to rise as opposed to fall, and we do see significant support below at the 1.54 level. Because of this, we are more apt be buyers and sellers.
Written by FX Empire