The GBP/USD pair went back and forth during the session on Wednesday, essentially settling on a fairly unchanged candle. We tried to break above the 1.70 level, but failed. On the other hand, we found plenty of support near the 1.6950 level, and as a result the market is still trying to figure out which direction wants to go next. We believe that the market will ultimately go higher, but we may have a bit of a fight on our hands between now and then. Is not until we get below the 1.69 level that we are comfortable selling.
