The GBP/USD pair fell during the session on Wednesday, going all the way down to the 1.6350 area. However, that area has offered support yet again, and as a result it looks like we’re simply going to continue the consolidation that we’ve seen for a while now. All things being equal, we believe that this market will continue to grind sideways overall, and that buyers will step in to support the market, as it should eventually break out to the upside. With that being said, we believe that short-term buying opportunities will present themselves.
Written by FX Empire