The GBP/USD pair tried to break out and above the 1.70 handle during the session on Monday. However, as you can see we ended up turning back around and forming a shooting star. With this candle, we believe that the market is going to pull back from here, but we don’t necessarily believe that the markets going to fall enough to warrant shorting it. On the other hand, we actually looking at this is a buying opportunity on pullbacks. A supportive candle is more than enough to get us to start going long, just as a break above the top of the shooting star, which would show a massive bullish momentum building up.
