The GBP/USD pair went back and forth during the day on Tuesday, as we continue to see significant bearishness in this market. We think that any bouncer this point time will find quite a bit of resistance near the gap that we formed at the beginning of the week, which we have as the 1.6250 region. With that, we think that a slight bounce is probably coming that we can sell, and then try to push this market back down to the 1.60 handle. We have no interest in buying this market, as we believe the British pound will continue to suffer.
