The GBP/USD pair fell during the session on Tuesday, testing the very bottom of the hammer that informed from Monday. This is a very negative sign, and as a result if we break the bottom of the range for the session on Tuesday, we feel that this market will then ultimately go down to the 1.50 level. That is the next major support level on longer-term charts, and as a result we think that’s exactly where the market will aim. Any bounce at this point time should simply be a selling opportunity.
