The GBPUSD pair broke higher during the day on Tuesday, as we continue to drive towards the 1.45 level.

We believe that short-term pullbacks might be buying opportunities now, as the market has been consolidating between the 1.40 level on the bottom, and the aforementioned 1.45 level on the top.

Having said that though, we are getting fairly close to the top, so it’s likely that we may run out of momentum fairly soon.

On the other hand, if we get some kind of exhaustive candle fairly soon, that could be a nice selling opportunity.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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