The GBP/USD pair fell initially during the session on Thursday, but found enough support below at the 1.68 level to push things higher inform something along the lines of a hammer. We’re the bottom of the recent consolidation area, and as a result it doesn’t surprise us that the market bounced. That being the case, we feel that the market will ultimately breakout to the upside, heading to the 1.70 level given enough time. We believe that there is a significant amount of support out of the 1.67 level as well, so even a pullback here is in a selling opportunity.
