The GBP/USD pair initially tried to rally during the course of the session on Tuesday, but found the 1.50 level to be a bit too resistive. By doing so, the market turned back around and form a fairly negative candle, but it is not until we get below the 1.48 level that we feel comfortable selling. Once we get below there, we feel that the market should then head to the 1.47 level, and then eventually the 1.45 handle given enough time. We believe that the US dollar will continue to strengthen overall, and this market probably won’t be any different.
