The GBP/USD pair fell initially during the session on Monday, but as you can see bounced off of the 1.66 level in order to form a hammer. With that, we are believers that this market should continue to go higher as the pullback may be just about over. This pullback is simply retesting resistance, and therefore a break of the top of this hammer has us buying this market and aiming for the 1.70 level. Granted, there will be bumps along the way, we do believe that ultimately this pair is going to end up at that level.
