The GBP/USD pair fell hard during the course of the session on Friday, as we sliced through the 1.55 level with almost no effort at all. Because of this, we believe that this market continues down to the 1.50 level now, as we close the very lows of the range, and sliced through the 1.54 level like it wasn’t even there. Ultimately, we believe that the 1.55 level is of course a major level, so there could be a significant amount of support down there. Rallies at this point in time should be selling opportunities as the pair is most certainly bearish.
