The GBP/USD pair broke higher after initially falling during the session on Wednesday. Ultimately, we ended up forming a hammer, which of course is a very positive sign. On top of that, it was at the top of the impulsive green candle from Tuesday. This shows that there are buyers below, and that the British pound should continue to grind its way higher. We believe that this market goes to the 1.55 handle, and therefore are buyers as long as we can stay above the 1.5150 level. Below there, we have to reevaluate.
