The GBP/USD pair fell during the day on Thursday, as we broke down below the 1.45 handle. That is a negative sign, and as a result I believe that the market is going to continue to drop, perhaps reaching down to the 1.4350 level. Buying really isn’t a thought at the moment, but I do recognize that there is a significant amount of headline risk coming out of the United Kingdom due to the boat on exiting the European Union. In other words, this is a market that is going to be very difficult to navigate.
