GBP/USD saw more bullish action on Friday as the Pound continues to gain against almost all other currencies. The 1.6050 level has given way, and now we look very constructive. However, the recent action looks a bit over extended, and as a result we are looking for pullback to buy.
The GBP/JPY shot straight up for the Friday session as well.The pair now sits well above the 131 level, and we are looking at this pair the same way we are the cable - buying Pounds on the dips as the BoE is worried about inflation while the BoJ is printing Yen.
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