The GBP/USD pair went back and forth during the session on Thursday, showing support at the 1.60 level as support. That being the case, this market does look like it wants to go higher, but we need to clear the 1.61 handle in order to go higher. If we can break above the 1.61 level, we feel this market could head to the 1.6250 level. We believe that’s what’s going to happen, but do recognize the fact that we could pullback from time to time. Selling is not an option at this moment in time as we have plenty of support below.
Written by FX Empire