The GBP/USD pair fell hard during the course of the day on Thursday, breaking the back of the hammer from the Wednesday session. This is a very negative sign, and we believe the continuation is more than likely going to happen at this point. We anticipate that this market will move to the 1.55 level over the course of the next several sessions, and that rallies at this point in time should be considered selling opportunities. We recognize that the jobs numbers today will more than likely offer significant volatility, so the daily close will be we pay most attention to.
