The GBP/USD pair rose initially during the session on Wednesday, but then fell apart and broke down below the 1.68 handle. However, there is still plenty of support in this general vicinity, and as a result we feel that the market should find buyers down in this general vicinity, so we are waiting for some type of supportive candle in order to get long of this market again. The 1.70 level will be targeted again, and ultimately we feel that the market could ultimately go much higher given enough time as the British pound has been strong.
