The GBP/USD pair went back and forth during the course of the session on Friday, hanging about the 1.60 handle. The resulting candle is a hammer, and as a result if we break above the top of the hammer, we would be buyers of this marketplace and heading towards the 1.62 handle. That being the case, we are buyers and we believe that the marketplace should continue to be very supportive as we continue to consolidate in this general vicinity. If we break down below the 1.5850 level low, we would be sellers as that would be a significant breakdown of support.
