The GBPUSD pair initially tried to rally during the session on Tuesday, but struggled in order to hang onto any type of gains, so therefore we ended up falling.

The market is a little bit slow at this point though, but ultimately we believe that rallies will continue to offer selling opportunities.

With no interest in buying, at least not until we get well above the 1.60 handle, something that isn’t going to happen anytime soon.

Rallies continue to represent “value” in the US dollar in our opinion. Because of this, selling is the only thing available.

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