The GBP/USD pair fell hard during the session on Thursday, but remained above the 1.60 handle in order to show signs of life still. We think that there will be support just below, and as a result we are waiting for some type of supportive candle in order to start buying the British pound again. We think that the US dollar will continue to be punished overall, and this pair has broken out above a significant level so buying up here is the way to go, but we need to see some type of supportive candle first.
Written by FX Empire