The GBP/USD pair went back and forth during the session on Wednesday, essentially printing a neutral candle. This is the second day in a row we have seen as, but it does suggest that the 1.65 level is going to offer significant support. If that’s the case, we are more than willing to buy a supportive candle somewhere in this general vicinity, as we believe the buyers will step into the market and push the price higher over the longer term. We also believe that the market will eventually hit the 1.70 level, but it will be a grind higher.
