In the GBP/USD pair on Monday, we saw considerable weakness. However, the 1.6350 level acted as support yet again, and therefore kept the sellers in check. With that being the case, it appears that the market could see a little bit of a bounce, and quite frankly we believe that this market should go higher overall anyway. However, we do not have the signal to start buying quite yet, so more than likely if you get a buy signal today, it will be on the short time frames. That’s fine, so we prefer to do is wait until we get the buy signal on the daily chart. Nonetheless, we are not sellers.
Written by FX Empire