The GBP/USD pair fell initially during the session on Thursday, but found enough support at the 1.5650 level in order to bounce back higher and a break above the 1.57 level. This market still looks like it once we get to the 1.60 level, and as a result we figure that this market will continue to grind its way higher. On pullbacks, we are bullish of the British pound, but do recognize the choppiness of this pair as being more than likely the norm going forward. As far as selling is concerned, we will not do it into we break down below the 1.55 handle.
Written by FX Empire