The GBP/USD pair rose during the session on Tuesday, breaking back above the 1.60 handle as the market looks like it’s ready to continue consolidating between the 1.59 level on the bottom, and the 1.6250 level on the top. Because of this, we feel that this market will continue to grind sideways, and that of course means higher prices from here. We are not inclined to sell, and do recognize the fact that if the market breaks above the highs from the Tuesday candle, we are more than likely going to head to the 1.62 handle fairly easily and we will be buyers.
Written by FX Empire