The GBP/USD pair went higher during the session on Tuesday, breaking the top of the shooting star from the Monday trading hours. However, we think that this market is going to run into trouble the closer we get to 1.5750, so as a result we don’t necessarily like going long at this point. It’s a simple matter of either your long now, or you were waiting to see some type of pullback for support. In the meantime, we also recognize the fact that the 1.5750 level could offer nice selling opportunities, based upon a shooting star or some other type of candle like that. In the meantime, we feel that if you are not involved in this market, you’re better off staying out.
Written by FX Empire