The GBP/USD pair fell during the course of the day on Monday after initially trying to break back above the top of the previous uptrend line. With this, the market looks very negative at this point in time, and if we can break down below the bottom of the range for the Monday session, we believe that this market will try to reach down towards the 1.53 handle, and then perhaps the 1.52 level. At this point in time, we have no interest in buying this market as it should be bearish for the short-term.
