The GBP/USD pair did rise initially during the session on Thursday, but as you can see rose in order to form something along the lines of a hammer. Nonetheless, we don’t like this pair at this point time, because the 1.5250 level should be significant enough to cause problems. We look at this is a market that’s ready to run into significant resistance, but isn’t quite ready to give up the fight. Looking for that resistive candle in order to start selling, and will do so without hesitation. On the other hand, if we managed to close at 1.53 or higher, we would have to go ahead and go to the long side.
Written by FX Empire