The GBP/USD pair initially fell during the course of the day on we feel that a break above the top of the hammer is a buying opportunity for the short-term traders only. We think that eventually any rally will find sellers above though, and as a result we think the real money will be made to the downside. If we break down below the bottom of the candle for the session on Thursday, at that point in time we should continue to go much lower, probably heading to the 1.50 level below.
