The GBP/USD pair went back and forth during the course of the session on Friday, testing the 1.550 level for support. Ultimately, we did find support there and as a result the market looks like it’s ready to head to the 1.58 level next. Ultimately, we believe that every time this market dips on a short-term chart we would be buyers as we continue to see bullish pressure. We believe that the British pound will be one of the better performing currencies around the world going forward, and if we can get above the 1.58 level we feel that the market will continue to see buyers step in and push this market to extraordinarily high levels.
