The GBP/USD pair initially broke higher during the course of the session on Friday, but as you can see struggled at the 1.50 level. By doing so, the market turned back around and formed a shooting star at the perfect level. Ultimately, I believe that this market will continue to show bearish pressure and that the rally is probably over. If we can break down below the bottom of the shooting star, we believe the market would then head to the 1.48 handle, and then possibly the 1.46 level given enough time.
