GBP/USD Forecast February 18, 2014, Technical Analysis

The GBP/USD pair initially try to rally during the session on Monday, but found the area above the 1.68 level as being far too rich, and pulled back. Towards the end of the day we sat around the 1.67 level, but we believe that there is plenty of support below in order to keep from selling this market. Quite frankly we are waiting for some type of supportive candle in order to start buying again as the market should continue to go higher. We still believe that the 1.70 level will be targeted ultimately, so therefore we are bullish.