The GBP/USD pair went back and forth during the course of the day on Tuesday, bouncing off the 1.57 level again. This is an area that looks like it is rather supportive, so at this point in time we are probably just going to go sideways. However, we can get above the 1.58 level we feel that it would be times are buying yet again. With no real interest in selling, we believe that there is plenty of support all the way down to the 1.55 level. With that, we think it’s only a matter of time before the British pound strengthens.