The GBP/USD pair initially tried to rally during the day on Thursday but turned right back around to form a relatively negative candle. It looks as if the British pound is going to continue selling off in, so move below the 1.3250 level is reason enough for me to start selling again. I think that rallies in this market that show signs of exhaustion will also be selling opportunities and therefore have no interest whatsoever in buying the British pound at this point in time. Going forward, I believe that we are reaching down towards the 1.31 level again.
