The British pound took off during the day on Wednesday, as we have cleanly broken above the 1.25 handle. Because of this, the pound should continue to be favored, and I think we will continue to see that short-term pullbacks will be a buying opportunity. Ultimately, if we can reach towards the 1.2750 level, we will fight significant resistance. Above there, the markets free to go much higher. I have no interest in shorting this market anymore, we have seen far too much in the way of impulsivity as of the last couple of weeks.
Written by FX Empire