The GBP/USD pair shot straight up during the Tuesday session as we broke above the 1.62 handle. This area signified a resistance level that finally has given way, and because of this, it does look like we will reach for the 1.63 handle and beyond. We have been very bullish of this market for quite some time, and will continue to be so. We believe a break above 1.63 signifies another leg up in this already bullish market. We see no reason whatsoever to start selling at this point. In fact, we believe this will be one of the better buy-and-hold trades of 2013.
Written by FX Empire