The GBP/USD pair fell during the session on Friday, breaking down below the 1.6450 level. However, there is still plenty of support all the way down to the 1.63 handle, so we are not selling. Quite frankly, we are sitting on the sidelines waiting for some type of supportive candle in order to start buying this market again. We believe that this market will ultimately break out to the upside and on to the 1.70 handle, but do not think that it is wise to enter this market until we get a hammer or some other type of candle in this general vicinity.
