The GBP/USD pair did very little during the session on Monday, but quite frankly that’s not going to be much of a surprise. After all, the Memorial Day holiday in the United States would’ve Liquidity low, but on top of that we have a bank holiday on Monday coming out of the United Kingdom. The fact that the currency pair did move at all should have been expected. We still believe that if we can break above the 1.55 level, the market should then head to the 1.58 level. On the other hand, if we break down below the 1.54 level, we should then head to the 1.50 handle given enough time.
