The GBP/USD pair initially tried to rally during the course of the session on Thursday, but fell and crashed down towards the 1.50 level. This is a major support area, so we need to see some type of break down here in order to start selling again. If we do get that, we feel that the market should continue to drop from here, but there is a massive amount of support between here and the 1.48 level, so don’t be fooled: this will not be an easy move lower. With that being said, we are looking to sell on the breakout.
