The GBP/USD pair shot much higher during the course of the day on Monday, testing the 1.57 region. It is a fairly strong candle, but at the end of the day we should find some type of resistance above, especially near the 1.58 level to turn things back around. With that being the case, we are waiting for resistant candle in order to start selling again, as we do not believe that the market is quite ready to go higher. On the other hand though, if we do break above the 1.60 level, we would assume that the trend is turned back around and we are going higher.
