The GBP/USD pair initially tried to rally during the session on Friday, but as you can see ended up falling below the 1.68 level. Because of this, we think that this is a reasonably very sign in that the market should head to the 1.67 handle next. At that region, we would anticipate quite a bit of buying pressure, so we could see a bounce from that handle. If we get below the 1.67 level, at that point in time we believe that the British pound is broken and should continue to fall.
