The GBP/USD pair fell during the course of the day on Monday, continuing to meander around the 1.6050 level. Because of this, we feel that the market is essentially one that’s going to go sideways for a while, and that being the case we have no interest in trading this market at the moment. However, we do recognize that this area could bring in a significant amount of support. However, at this point in time we realize that it’s probably easier just to simply ignore this market in the short-term as there is simply no clear-cut set up.
