The GBP/USD pair rose during the session on Friday, but not enough to make a substantial move. We are essentially meandering around the middle of the range that the market is trading and currently, and as a result it is difficult to come up with any type of significant analysis. The market seems to be stuck between the 1.50 level on the bottom, and the 1.5250 level on the top. Quite frankly, with the recent breakdown of the trend line that we have seen, we are looking to short this market a little bit closer to the 1.52 handle on a resistive candle.
Written by FX Empire