The GBP/USD pair broke higher during the course of the day on Wednesday, slamming into the top of the resistance of this consolidation area again. We believe that the 100 day exponential moving average below continues offer support, just as the 1.55 level does. Beyond that, we have the uptrend line that should continue to pushes market higher, and we feel that it’s only a matter of time before we break out to the upside. In the meantime though, we are simply waiting for pullbacks in order to take advantage of what should be thought of as value.
