The GBP/USD pair went back and forth during the day showing quite a bit of volatility, but in the end formed a very neutral candle. Because of this, we feel that the market is probably waiting on the statement coming out of the Federal Reserve, and as a result it’s a little bit difficult to imagine what the market is going to do ahead of time. We do think that a sustained move above the 1.62 level is a buying signal though, and that’s quite frankly we were hoping for. In the meantime, we will be patient.
