The GBP/USD pair had a pretty volatile session during the day on Thursday, initially falling all the way back down to the 1.51 level. However, by the time the day started to get close to closing, we ended up forming a hammer. This shows just how resistive the 1.52 level is going to be, but if we can break above there the market more than likely will reach the 1.53 level again, and then up to the 1.55 level given enough time. We have no interest in selling at this moment, and as a result we believe that perhaps the British pound is trying to change its tune.
