The GBP/USD pair tried to rally during the session on Monday, but as you can see the 1.60 level offered far too much resistance, and as a result the market formed a little bit of the shooting star. That being the case, the market looks like it’s ready to try and break down a little bit, but we think the gap at the 1.5950 level will offer support, and we deftly think that the 1.5750 level has the potential as well. That being the case, we are simply waiting for supportive candle, or break of the shooting star from the Monday session in order to go long.
Written by FX Empire