The GBP/USD pair initially fell during the session on Monday, but found enough support at the 1.53 level to turn things back around and form a fairly positive candle. Because of this, it looks as if we are going to test the 1.55 handle again, which should be massively resistive. We are looking for resistive candles in that region to start selling again, as it should continue to offer more opportunity for the sellers to get involved. We are not looking for any type of meltdown, rather some type of short-term selling opportunity. Above the 1.55 level, we see more than enough resistance all the way to the 1.57 level to keep us on the sidelines.
