By FXEmpire.com
The GBP/USD pair fell again for the Wednesday session to form another hammer. The hammer form Tuesday never got violated to the upside, so this analysis is essentially going to be a carbon copy of the analysis from yesterday.
The hammer suggests that we are finding the 1.62 level as supportive, and a break above the top of the candle from the Wednesday session is a buy signal. The 1.6050 level below should hold as long as the breakout to the upside and bullish momentum are to be believed. With this in mind, we buy the break of the highs for Wednesday, and aren’t selling at this point in time.
Click here a current GBP/USD Chart.
Originally posted here
