The GBP/USD pair rose during the course of the session on Wednesday, but as you can see struggled at the top of the recent consolidation area. Because of that we feel that the market will ultimately bounce around in this general vicinity, and with an interest rate announcement coming out of Great Britain today, we could see a significant amount of volatility as we continue to grind away sideways. Ultimately though, we feel that the market will find its way out of this consolidation, but it could take a bit of time.
