The GBP/USD pair fell during the bulk of the session on Friday, but bounced off of the 1.53 region in order to form a hammer. Because of this, it appears that the market is trying to reach the 1.55 handle, we anticipate seeing quite a bit of resistance in that area. With that, we are looking for negative candles to sell, or a break below the bottom of the hammer from the session, you are which would do. We have no interest in buying, and believe that the resistance extends all the way to the 1.58 handle.
