The GBP/USD pair broke higher during the course of the day on Tuesday, testing the 1.54 level. However, we have recently broke down below and uptrend line that was very important, so we are not willing to start buying. We believe that it’s only a matter time before we get a resistive candle that can turn this market back around and continue the downward trend. However, if we get above the 1.55 handle, at that point in time we would be interested in possibly buying. We would have to reevaluate the entire situation in that region.
