The GBP/USD pair initially fell during the course of the session on Friday, in response to a stronger than anticipated jobs number out of America. However, you can see that we bounce significantly off of the 1.52 level, closing near the 1.5270 level. With this, it looks like the market is ready to continue going higher, and we believe that ultimately the British pound will reach the 1.54 level, and then perhaps try to break out above the 1.55 level which would be extraordinarily strong. We have no interest in selling until we get below the 1.52 handle.
