The GBP/USD pair went back and forth during the session on Friday, but as you can see essentially went nowhere. What’s most interesting is that we are still underneath the 1.60 handle, an area that should be resistance. However, we think ultimately this will come down to whether or not we can close above that level, or not. If we don’t then we think this market will drift a bit lower. On the other hand though, if we did get a daily close above the 1.60 handle, we are more than willing to start buying this market as it has been so bullish.
Written by FX Empire