The GBP/USD pair broke higher during the course of the day on Wednesday, testing the 1.57 handle. That being the case, the market looks as if it is ready to perhaps bounce around little bit we still believe in selling rallies as they appear. Resistive candles above will continue to be selling opportunities, and we believe that the GBP/USD pair is eventually going to head down to the 1.55 handle. If we can get below there, the 1.50 level is probably targeted. We are not interested in buying this market until we get above the 1.60 handle, something that doesn’t look likely at the moment.
