The GBP/USD pair rallied during the session on Tuesday, but gave back quite a bit of the gains in order to form something along the lines of a shooting star, or possibly a neutral candle. However, it does look like the 1.55 level will continue to be supportive, and as a result we think short-term traders will continue to buy this market on short-term dips. However, we believe that ultimately this market will try to get to the 1.5750 level as it has been significant resistance recently, and is the next target for the markets.
Written by FX Empire