The British pound initially fell during the day on Tuesday, but found enough support below to turn things around and shoot the market much higher. Ultimately, I believe that we will continue to go higher, but only for a short amount of time. I believe that the 1.31 level will be resistive enough that the sellers will get involved. I think we are simply trying to build up enough momentum to finally break out, but the question now remains as to how long it will take. Short-term buying opportunities, longer-term bearishness is how I look at this market.
