The British pound fell again during the day on Friday, as we continue to grind our way down towards the 1.30.

There is quite a bit of support just below though, so having said that it’s not necessarily going to be easy to search selling here.

I would prefer to see some type of rally that sells off that we can get involved in on shorter-term charts more than anything else.

A break down below the 1.29 level would free this market to go down to the 1.25 level after that. I have no interest in buying the Euro at the moment.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

Content curiosity of FOREXCycle