The GBP/USD pair initially fell during the day on Monday, but found a little bit of support below in order to form something along the lines of a hammer. With this, we believe that the market is going to continue to fight in this general vicinity, but we feel that the market still needs to go back down to the 1.50 level in order to find true support. A supportive candle in that area would be bought by us, but if we can break down significantly below that level, we would be sellers.
