The GBP/USD pair rose during the course of the session on Thursday, breaking above the 1.68 level, opening the path to the 1.70 level given enough time. We believe the pullbacks will continue to be opportunities to buy this market, and have no interest in selling it at all. In fact, we believe that the market will ultimately break above the 1.70 level, which should send this market looking for the 1.75 level. Any type of pullback from here should offer a buying opportunity as there is plenty of support below. We still believe that the 1.67 level will be massively supportive as well.
