The GBP/USD pair fell slightly during the session on Monday, staying just below the 1.60 handle. This area is the epicenter of the larger consolidation range, and as a result we think that this market will probably drift slightly lower, and then find buyers. If we get some type of supportive candle below current prices, as long as it stays above the 1.59 handle, we are more than willing to start buying. As for selling is concerned, we need to see the 1.59 level get broken down below in order to do so.
Written by FX Empire