The GBP/USD pair fell initially during the week, going below the 1.55 handle. However, we bounced enough to close well above it, and for that matter above the 1.56 level. It appears to us now that the 1.5750 level will be targeted, but it isn’t exactly a long-term move. This is more of a short-term traders market at the moment, and as such we do not have any signals going forward for the longer-term trader. However, we do acknowledge the fact that a move above 1.5750 would in fact more than likely signal much higher prices.
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