The GBP/USD pair initially fell during the day on Wednesday, but found enough support to turn things back around and continue to go higher. Because of this, we feel that the pair will continue to go higher over the longer term, and that it is almost assured to go to the 1.58 level next, and then probably much higher as we believe the longer-term trend has shifted in favor of the British pound going forward. With no interest in selling, and we believe that pullbacks are simply opportunities to buy the British pound based upon value.
