The GBPUSD pair went back and forth during the session on Monday, proving the 1.70 level to be supportive enough to keep the market somewhat afloat.

Ultimately, we do feel that this market goes higher, as it seems to be fairly comfortable above the 1.70 level, an area that had been rather resistive previously.

With that being the case, we think that an impulsive candle would bring in the buyers, and that has all the makings of a move to the 1.75 resistance barrier.

We have no real interest in selling this market as it has been gaining momentum to the upside for quite some time.

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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