The GBP/USD pair went back and forth during the session on Tuesday, forming a negative candle in the end. That being the case, it appears that we are continuing to test the 1.68 level for support, an area that has seen quite a bit of action. With that, we feel that the market should go to the 1.70 level, which is our longer-term target anyway. We believe that the move higher will take quite a bit of effort, so this may be one of those deals where you buy on the dips, and don’t necessarily hang onto the trade.
