The GBP/USD pair tried to break higher during the course of the day on Monday, but as you can see the 1.60 level has offered enough resistance to turn the market back around and form a shooting star. Because of that, it appears of the market is ready to go sideways still and as a result we are staying on the sidelines at the moment. The market does look like it wants to consolidate overall, and could rises high as the 1.62 level. Because of this, we are more bullish than bearish, but don’t have the correct signal yet.
