The GBP/USD pair broke higher during the day on Tuesday as the 1.45 level has now offered quite a bit of support. In fact, we went much higher and we believe that the market will probably try to grind its way towards the 1.48 level above. Short-term pullbacks could be buying opportunities on signs of strength, and at this point in time we have no interest in shorting this market. The British pound very well could go to the 1.50 level over the longer term, but we need to build up enough momentum to do so.
