The GBP/USD pair rose during the week, smashing through the 1.65 handle, and more importantly the highs that we had formed two weeks ago. With that, we see that the market is free to go to the 1.70 handle without too many issues, and because of this we think that pullbacks will provide buying opportunities. The 1.65 level should offer support, and it now appears that the market based upon inflation data out of the United Kingdom should continue to be bullish and selling will not be a possibility because of it.
