The GBP/USD pair went back and forth during the day on Thursday, ultimately selling off though. We have broken below the 1.69 level, so we would suggest that perhaps this market continues to go lower, probably looking for supportive the 1.68 handle. Ultimately, we feel that the market will find support below, but in the short-term it appears that the British pound will continue to sell off. With that, we are bearish, but more or less from the short-term charts. Be advised that the nonfarm payroll numbers by later today, and that of course can move this market.
