The previous trading day for the GBP/USD pair was not very interesting or effective. As expected, the price tried to rise, but the momentum was only enough to slightly update the then-current local maximum. Immediately after this, sellers became active, pushing the price back to the starting point of this short upward movement.
In the near future, another attempt to break higher is possible, but the potential of this movement may not be very significant. On the other hand, sellers might gain confidence from these small, seemingly successful efforts to halt their opponents’ progress.
In this situation, it is better to observe the developments of this pair from the sidelines without taking any active trading positions.
Investment Idea: Flat.
Origin: FreshForex
