The GBP/USD pair fell during the course of the day on Friday, testing the lows yet again. Because of this, we feel that it’s only a matter of time before the GBP/USD pair will head to the 1.55 level, and then possibly the 1.50 level after that. We have no interest in buying this market until it goes above the 1.60 handle, something that does not look very likely anytime soon. We believe that the US dollar continues to be the most valued asset out there overall, and as a result this pair should continue to go lower.
