GBP/USD Forecast April 9, 2014, Technical Analysis

The GBP/USD pair took off to the upside during the session on Tuesday, breaking above the resistance level at the 1.67 handle, and heading towards the 1.68 level, the next resistance area. We believe that if we can get above that area though, we could at all the way to the 1.70 handle given enough time. Any pullback at this point in time could offer a buying opportunity as there are plenty of supportive areas below. We believe that the “floor” in the market at the 1.65 handle, and as a result we are “long only.”