The GBP/USD pair fell hard during the session on Monday, slamming into the 1.63 support level. This is an area that’s acted rather supportive of the last couple of months, so with that being the case we feel that the area should attract buyers. However, with the shape of the candle for the Monday session, we think that we need to see some type of supportive daily candle in order to be comfortable buying down here. With that, we are buyers on the right candle, but we do not sell to simply because we think there’s a certain amount of support below.
