The GBP/USD pair fell during the course of the session on Friday, but found enough support below the 1.55 level in order to form a hammer. The hammer of course is a sign of support, and as a result we are buyers on a break above the top of the hammer has this market should then go towards the 1.57 handle. As far as breaking down is concerned, we don’t have any interest in shorting, simply because there’s a nice uptrend level just below. With this, we believe that this market might be a little bit different than many of the others, as the US dollar might soften.
