The GBP/USD pair broke higher during the course of the session on Thursday as we broke out above the recent consolidation area. It does appear that the British pound is ready to strengthen a bit but we recognize that the 1.55 level above is resistance. With that, we just simply wait to see if we get resistive candles in that vicinity as it would represent value in the US dollar. Although, you have to keep in mind today is nonfarm payroll. With that expect a lot of volatility with the US dollar and therefore this pair. We do have a negative bias though.
