GBP/USD initially fell during the session on Thursday, but found enough support below the 1.6750 area to turn things back around and form a hammer. A break above the top of the hammer should send this market back towards the 1.70 level, which of course is an area that we have targeted in the past, and we still feel that the area is in fact a target. If we can get above there, the market could head to the 1.75 level, which is yet another major target on longer-term charts. At this point time, there’s no interest in selling.
