The GBP/USD pair gapped lower at the open on Monday as anticipated, and as a result we continue to see selling pressure. It looks as if the market is going to continue to be a bit on the soft side, so it makes sense that selling short-term rallies that show signs of exhaustion might be the way to go. At this point in time, I have no interest in buying this market, because quite frankly it is one that will probably continue to have a lot of headline risk going forward as the United Kingdom has to figure out its way out of the European Union.
