The GBP/USD pair went back and forth during the course of the day on Tuesday, testing the 1.52 level for resistance. However, we could not break above that area so it looks as if the market is probably still going to have quite a bit of selling pressure facing it. If we can break down below the lows for the session, we feel that the market should continue to drive itself lower and reach towards the 1.50 level. Rallies at this point in time should have more than likely offer selling opportunities in or later, so we will look at them for such trading setups.
