The GBP/USD pair broke back and forth during the course of the session on Friday, but most importantly tested the 1.48 level below for support. If we can break down below that level, we feel that the market should continue to go much lower, perhaps heading to the 1.45 handle. Just above, the 1.50 level above is massively resistive, so at this point time we are continuing to look bearish and we believe that the sellers will continue to pushes market much lower. We have no interest whatsoever in buying this pair, and recognize that above the 1.50 level there is a significant amount of resistance.
