The GBP/USD pair tried to rally during the session on Monday, but as you can see giveback most of the gains. At the end of the day, we had form a shooting star, which of course is a negative sign. However, we believe that this is a simple pullback waiting to happen, not some type of meltdown. With that, we are looking for a supportive candle in order to start buying as we believe that this market will eventually grind its way up to the 1.70 handle given enough time. Selling is not an option.
