The GBP/USD pair did very little during the day on Monday, as we continue to see support at the 1.30 level. Alternately, if we rally at this point in time, I think that the sellers will reenter the market at higher levels, as the 1.35 level above is massively resistive. If we can break down from here, I would have to wait until we get below the 1.28 level in order to feel comfortable selling as I do see quite a bit of support underneath current trading levels and think that it will be a fight although I fully anticipate that the British pound will continue to go lower.
