The GBP/USD pair went back and forth during the session on Tuesday, essentially settling nothing. This candle is very neutral, and we believe that the area below offers enough support that we really can break down significantly, but the area above is a bit too rich for the market right now. With the FMOC meeting coming out later today, we suspect that waiting for the daily close and loving the market show what it plans on doing next is probably the smart move. A close below the 1.65 level signifies that the market might be ready this are breaking down, while a move above the 1.6650 level could be a sign that the buyers have taken control again.
