By ForexMansion.com
The GBP/USD has found the 1.60 level very supportive recent, and is currently testing it. The level is key, and the pair seems to be running out of steam. Any longs will certainly have to see this level hold. If it does not, we should see a choppy downward motion for the near-term. If this level holds, we could see a rise back to 1.63 in the short-term.
The pair seems to be sensitive to the world’s equity markets, and they have been shaky at best. If you feel that this pair should rise – you could have a small stop loss at this area as the level is so crucial. If it fails, it will move quickly, even if it is going to be choppy.
