The GBP/USD pair fell during the course of the session on Friday, and as a result it looks like the market is ready to break down even farther. If we can break down below the bottom of the range during the session on Friday, we would not hesitate at all to start selling. We think at that point in time, the market should then head to the 1.50 level, and then possibly even lower than that. If we rally from here, we feel that any type of resistive candle will be a selling opportunity as well.
