The GBP/USD pair as you can see initially fell during the session on Tuesday, and then broke much higher. However, the 1.58 level continues to offer resistance and therefore we are not ready to start buying yet. In fact, we are bit hesitant to buy this pair until we break above the 1.60 handle, which it that point in time we would expect that this market is changing trend again. Ultimately, we are on the sidelines but we recognize there could be a decent buying opportunity appearing fairly soon. We do not have the right candle to start selling quite yet.
