The GBP/USD pair initially tried to rally during the course of the session on Thursday, but the 1.55 level offered resistance yet again. Because of this, the market ended up forming the second shooting star in a row, and now it appears that the British pound is going to pull back from here. It would make sense to see that move though, after all we have seen such an overextension of the bullish pressure. Ultimately though, we think that this market will probably only fall to the 1.52 level. With that, you will have to be nimble to trade this pullback when it happens.
