The GBP/USD pair when higher during the session on Tuesday, bouncing off of the 1.64 handle. This market looks like it’s ready to continue going sideways, but we do recognize the fact that the 1.65 level will be rather resistive. If we can get above that, we think that the market will eventually break above the recent high and start going much higher than, perhaps as high as the 1.70 level. We believe that the market will eventually do this, but it’s simply a matter of timing and momentum, something that we think are starting to favor the buyers yet again.
Written by FX Empire