The GBP/USD pair fell during the session on Friday as the Americans released a better than anticipated jobs numbers. However, the 1.60 level still acts as support, and as a result we closed just above it. Going forward, we expect this pair to continue to grind away between the 1.59 handle, and the 1.63 handle as the British pound has been very range bound recently. A break above the 1.63 handle since his market looking for the 1.65 level, as a break below the 1.59 level as this market looking for much lower prices, and would probably reverse the trend that we have seen for the better part of six months.
Written by FX Empire