The GBPUSD has recovered back above that 1.2100 handle into today’s close. Earlier this morning, the pair was trading well below it. In fact, the pound hit a low of 1.2064. But as you can see, the GBPUSD has recovered nicely into the close. I wrote about this 1.2100 area acting as (new) support in Sunday’s forecast. I even mentioned it last Thursday. So should you buy GBPUSD now that the pair is back above 1.2100? That’s a question only you can answer. However, I think we have to look at the bigger picture to understand why buying the pound is still a risky endeavor. First, the pair has been trending lower since ... (full story)