The GBP/USD pair fell during the course of the session on Monday, testing the 1.5350 region. This is an area where the buyers should start to step back in, and therefore we like buying supportive candles on short-term charts. We don’t think it’s a long-term buying opportunity though, as the 1.55 level above should be resistive. We think that there is a massive amount of resistance above the 1.55 level, extending all the way to the 1.58 handle. Any type of resistive candle between here and there would be a nice selling opportunity though for the longer term trader.
