The GBPUSD pair initially fell during the course of the session on Monday, but turned back around and reached above the 1.45 handle.

The area above there is massively resistive, so having said that it appears that the market could pull back from here, but a break above the top of the range would it suggests that the market is picking up steam in going much higher.

With this, we set of parameters and recognize that the buyers seem to be taking over.

However, it is not going to be an easy move.

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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