The GBP/USD pair fell during the course of the session on Wednesday, dipping well below the 1.48 level before finding support. That being the case, we ended up bouncing enough to form a bit of a hammer, and as a result it looks like we could get a little bit more bullish momentum. However, we feel that there is enough resistance all the way to the 1.50 level to keep the market going lower. We are waiting to see some type of resistive candle in order to start selling, or a break below the hammer from the Wednesday session as it would show significant weakness.
