The GBP/USD pair rose during the day on Wednesday, as we tested the 1.47 handle. We did pullback slightly, but at the end of the day we think there is more than enough buying pressure underneath to continue to push this market higher. Once we clear the 1.48 handle, we would then target the 1.50 level which has been important on longer-term charts historically. Pullbacks should find plenty of buyers all the way down to the 1.45 handle, so quite frankly we have no interest in selling this pair at the moment.
