The GBP/USD pair fell during the session on Monday, as we head towards the 1.53 handle. If we can break below this level, the market should then head down to the 1.50 and although it should be rather choppy on the way down. That level is massively supportive though, so we do not anticipate that the market would break down below there. Any rally at that point in time should be a nice selling opportunity, as there is significant bearish pressure in this downtrend that should continue to favor the US dollar overall, as is the case with most currency pairs.
