The GBP/USD pair gained rapidly during the day as Janet Yellen started giving her speech in Wyoming. We have broken above the 1.2850 level, and also tested and broke the 1.29 handle. That’s an area that could have caused a bit of selling pressure though,but the pair run and reached 1.30 level before succumbing to selling pressure. Because of this, I’m will only be selling the highs on this pair this week. I am not interested in buying the British pound right now, because it has broken down rather significantly, and in the recent past. While the Federal Reserve may be somewhat dovish, at the end of the day the British pound has more issues.
Good luch this week.
Good luch this week.