The GBP/USD pair broke higher during the course of the day on Tuesday, as we tested the 1.57 level. This is a market that is most certainly bullish at this point in time, so we are looking for short-term pullbacks in order to start buying. We have no interest in selling, and we believe that the 1.55 level should now be the “floor” in this particular pair, as the British pound is suddenly starting to look like one of the favored currencies in the world according to Forex traders. With this, we believe that the 1.58 resistance barrier is the target.
