The GBP/USD pair broke higher and above the 1.55 level during the session on Wednesday, which of course is a very bullish sign. If we can break the top of the range for the day, we feel that this market probably then heads towards the 1.57 level, and then the 1.58 level next. With that, we believe the pullbacks are also buying opportunities, as the British pound in general is doing fairly well. Ultimately, we believe that this market is well supported all the way down to the 1.52 handle, and possibly even lower.
