The GBP/USD pair fell during the session on Wednesday, slamming into the 1.60 handle again. The area has been supportive time and time again, and as a result we have seen a bounce yet again. This market has been testing this general area for some time now, and as a result this consolidation looks set to continue. Ultimately, this market probably breaks to the upside, but we need to close above the 1.63 level in order to buy and hold for any real length of time, which we think ultimately will reach to the 1.65 level.
Written by FX Empire