The GBP/USD pair fell during the course of the day on Monday, as the 1.58 level continues to offer significant amount of resistance. Ultimately though, we feel that the 1.55 level below is massively supportive, and that any type of supportive candle in that area is more than likely going to end up being a buying opportunity. We like the British pound in general, and as a result we are “buy only” at this point, and don’t necessarily have a scenario in which we are ready to start selling. If we can get above the 1.58 level, this market should continue to go much higher.
