The GBP/USD pair initially fell during the session on Monday, but as you can see found enough support to bounce and form a relatively nice looking hammer. This hammer of course suggests that we are going higher, and as a result we think that a break of the top of the Monday session is more than enough of a reason to start buying. We do not like selling this pair at all, because we believe that the 1.60 handle is support, and will simply be the “floor” of this market going forward.
Written by FX Empire