The GBP/USD pair fell during the session on Thursday, slicing through the 1.65 handle. The market does have quite a bit of support below that area though, and as a result we got a bit of a bounce. Not a big surprise to us, and quite frankly we think that this market is eventually going to go higher. However, we do not have the setup at the moment so we are simply observing this market currently. We suspect that there is going to be a significant amount of support all the way down to the 1.63 handle.
