The GBP/USD pair fell hard during the session on Monday, but remains within the consolidation area that we have been in for some time. That being the case, the market looks as if it is ready to simply bounce around in this general vicinity, but if we get below the 1.55 level, we would be massive sellers. We also recognize that rallies are selling opportunities as it should be looked at as value in the US dollar. That being the case, the market should continue to go much lower, and as a result we are sellers overall.
