The GBP/USD pair initially fell during the course of the session on Thursday, but found enough support below to turn things back around and form a hammer. Because of this, the hammer suggests that the buyers are starting to come back into play, and if we can break above the top of that hammer, at that point time we anticipate that the market will continue to go much higher. With the recent turn around in the value of the US dollar, it’s not a huge surprise that the British pound continues to strengthen.
