The GBP/USD pair fell on Friday, as the market reacted to the jobs number. This market tested the 1.52 level for support and found it – kind of. With this though, it looks as if the market is precariously sitting on top of what could be the next fall, so any break of the bottom of the range for the session on Friday should send this market much lower. At that point in time, we feel that the market should then head to the 1.50 level, and then perhaps even lower. On entering, we do bounce from here, we would be looking to sell rallies that show signs of resistance.
