The GBP/USD pair as you can see initially fell during the course of the day on Wednesday, but bounced enough to head back towards the 1.62 level. We are just below a gap from the beginning of the week though, but as you can see this gap should offer quite a bit of resistance, and as a result we are more than willing to start selling any type of resistant candle on the shorter-term charts in this region. The British pound should continue to suffer, and that we have no interest in buying it until we at least clear the top of the gap, and quite frankly would feel better above 1.65 at this point.
