The GBP/USD pair rose during the course of the session on Wednesday, bouncing off of the bottom of the range from the Tuesday session. The 1.68 level offered resistance though, so we stayed well within the very short-term range that we have been in for roughly 2 weeks. Ultimately, we still believe that this market goes higher, aiming for the 1.70 level. That area should be rather resistive, but by the end of the summer we fully anticipate this pair going to that level. Selling is not something we are interested and at the moment as we see the 1.67 level being supportive.
