The GBP/USD pair did very little during the session on Tuesday, but did print a negative candle. The printed somewhat of a hammer, based upon the 1.664 level. With that being the case, we feel that support continues to enter the market right about here, thereby making a break above the top of this hammer a decent buy signal. We don’t necessarily believe that the market is going to go straight back up, but recognize that we are in a decent range trading environment. With that, we are buyers but only for the short-term.
