GBP/USD pair initially tried to rally during the day on Wednesday, but found the area above the 1.57 level to be a bit too rich. We fell, but we are still well above the 1.55 level, which we see as the “floor” of this market currently. With that being the case, we are waiting for some type of supportive candle in order to start buying again, as we believe that the British pound will continue to do fairly well over the longer term. Keep in mind though that the employment numbers come out of the United States today, so it’s very likely that volatility will be increased.
