The GBP/USD pair rose slightly during the session on Friday, proving that the hammer does in fact have some significance that we printed on Thursday. However, we think this is a short-term buying opportunity, and probably not too much more than that. Because of this, we feel that the market is probably short-term buying, and then will turned back around at the 1.68 handle. Selling at that level is our plan if we get some type of resistant candle obviously. We think that the real significant support is probably closer to the 1.65 handle. However, we would start buying if we close well above the 1.68 handle on the daily charts as it would show a break of downward momentum.
