The GBP/USD pair broke higher during the day on Thursday, but again the 1.66 level has offered enough resistance to turn the market back around and form a shooting star. With this, we feel that the market is going to continue to go sideways here, and therefore we feel that short-term selling opportunities may be presenting themselves on the short-term charts. With that, we are bearish on the British pound, and do believe that ultimately we are going to test the 1.65 handle itself. We have no interest in buying until we break well above the top of the shooting stars that have formed over the last several sessions.
