The GBP/USD pair initially try to rally during the session on Friday, but as you can see continue to fall and closed at the 1.64 level. This begins a significant amount of support at this area, so we think that any supportive candle in this general vicinity is going to be a decent buy signal. We don’t believe that the trend has changed in this market yet, so we’re still bullish over the longer term, but recognize that the supportive candle needs to be seen in order to go ahead and risk trading capital.
Written by FX Empire