The GBP/USD pair broke higher during the session on Monday, as the 1.55 level offered quite a bit of support. That support is what we needed to see in order to start buying again, because we recognize that the uptrend needed support to hold in general. This was an area where we anticipated seeing that support, and now that it has appeared we think that the market will probably head back towards the red line on the chart at the 1.57 level. Above there, we would head to the 1.58 level, and then possibly the 1.60 level. We have no interest in selling the British pound.
