The GBP/USD pair broke higher during the course of the session on Tuesday, testing the 1.52 level. We believe that this market is still consolidating, so therefore we are not willing to buy it into we get above the 1.53 handle. Any resistive candle in that area should be a selling opportunity, heading back towards the 1.50 level for support. However, we break above the 1.53 level, we feel that this market will feel somewhat obligated to reach the 1.55 handle. At that area, we would anticipate even more resistance, and would be looking for a selling opportunity.
