The GBP/USD pair went back and forth during the session on Friday, but bounced enough to form a hammer. This hammer suggests that the market is going to continue to find buyers every time we drop, and as a result the market will more than likely go higher in trying to break above the 1.72 level, ultimately send in the market to the 1.75 level, which is our longer-term target for this pair. The 1.70 level below continues to offer support, and as a result we are “buy only” in this marketplace.
