The GBP/USD pair fell during the course of the session on Tuesday, but found enough support at the 1.51 level to form a nice-looking hammer. This hammer of course suggests that there are still buyers below and we also feel that pullbacks will continue to offer support as well. Ultimately, we feel that this market should continue to go higher, once we break the top of the two hammers that we have now formed over the last two sessions. When that happens, we anticipate seen this market go to the 1.5350 level, and then possibly the 1.55 handle. We have no interest in selling, the 1.50 level below is far too supportive.
