The GBP/USD pair broke higher during the course of the session on Friday, but turned back around to form a massive shooting star. With this being the case, the uptrend line that had recently kept the market going higher is now offering resistance. If we can break down below the 1.55 level, we would be sellers. We have no interest in buying at the moment, as it appears there is nothing but volatility just above. Ultimately, the market could very well find its way back down to the 1.52 handle. Below there, the market should then head to the 1.50 handle.
