The GBP/USD pair tried to rally during the session on Thursday, but failed to hang onto the gains and started falling later in the day. As you can see, we formed a little bit of a shooting star, but it isn’t necessarily enough to get us to start selling this market. We still think there is plenty of support below, and therefore simply waiting for a supportive candle in order to start buying this market that is obviously in an uptrend. The 1.65 level will give us a lot of resistance, but if we get above there, we would head to the 1.70 level over the longer term.
Written by FX Empire