The GBP/USD pair rose during the session on Thursday, breaking above the 1.6650 level. We have essentially broken out, but if we can get above the highs from the Thursday session, we would be much more comfortable buying. Alternately, we see quite a bit of support below, all the way down to the 1.65 handle without too many issues, so a supportive candle at a lower price should simply represent value as far as we can tell. With that, there is no scenario in which we sell the British pound, and do believe that ultimately this pair hits the 1.70 level.
