The GBP/USD pair fell during the course of the session on Tuesday, but remains above the vital 1.67 level that we believe is going to be supportive. We think somewhere closer to the 1.67 level we should see supportive candles, and they will be bought by us as we should continue to see the British pound rise over the length of time. The 1.70 level should continue to be a target for the buyers, and we will grind this market higher until we get there. Even if we break down below the 1.67 level, we will then have to contend with the 1.65 level which we feel is the “floor” in this market.
