The GBP/USD pair initially fell during the day on Wednesday, but found enough support below yet again to turn things back around and form a hammer. With this, the market looks like it is still very bullish, and as a result we don’t really have any interest in shorting at this point in time. In fact, we feel that this market will eventually hit the 1.57 level, and then test the resistance barrier at the 1.58 handle. We contend that pullbacks are still going to be buying opportunities off of short-term charts.
