The GBP/USD pair rose during the session on Monday, as the 0.59 level offered support. As far as we’re concerned, if we can get above the 1.6050 level, this market will continue higher and aim for the 1.6250 level as well. Going forward, we do think that is what’s more than likely going to happen, as it would simply be a continuation of the consolidation that we’ve seen recently. With that being the case, we feel that this market will ultimately breakout to the upside, but do recognize that getting above the 1.63 handle will be vital for the longer-term bullish run.
Written by FX Empire