The GBP/USD pair fell during the day on Thursday, but still finds support near the 1.68 handle. Because of this, we feel that the market could bounce here, but we do not have the right supportive action yet to start buying. We suspect that the market still needs to back around in this area, and we also recognize of the 1.67 level is probably far more supportive. With that, we are bullish and the longer-term but do not have a reason to start putting money at risk at this point in time, but most certainly will be pay attention.
