The GBP/USD pair broke higher on Wednesday, as the US dollar sold off against most currencies. However, the British pound did run into a bit of trouble at the 1.60 level, as we are closing just and that handle. We believe that there is still a significant amount of downward pressure in this market, and as a result we think that it’s going to be a was impossible to start buying the Pound, and as a result are simply waiting to see some type of resistant candle in order to take advantage of the trend.
