The GBP/USD pair rallied during the session on Tuesday, breaking above the 1.67 level during the day. However, we turned back around and formed a shooting star which of course suggests that we are going to continue to see a bit of volatility back and forth. We still believe that ultimately this market goes higher, and as a result we only buy the British pound, never selling it. We believe that the 1.66 level will continue to be supportive, just as the 1.65 level is. Any supportive candle at this point in time is reason enough to start buying again.
