GBP/USD fell during the session on Thursday, testing the 1.71 level. This area continues to be somewhat supportive though, and as a result we feel that the market should continue to bounce from here and head to the 1.72 handle. Getting above the 1.72 level would be reason enough for the market to head to the 1.75 handle, and we would of course be buyers. On the other hand, if we drift back to the 1.70 level, we believe that it is essentially the “floor” in this marketplace. We have no interest in selling this pair.
