The GBP/USD pair went back and forth during the session on Monday, seeing a significant amount of volatility, but in the end closing basically unchanged. This market found a lot of resistance of the 1.5250 level, and as a result the market remains basically where it started as the range tighten up for the day. The market has been sold off rather hard, so a move above the 1.5250 level should signify a potential selling opportunity at higher levels. We do not believe that this market will get back above the 1.55 level, and as a result we are looking for resistive candle to sell above current pricing. On the other hand, if we managed to break the bottom of the Friday candle, we would sell there as well.
Written by FX Empire