The GBP/USD pair rose slightly during the course of the session on Monday, as we continue to see quite a bit of volatility. The 1.34 level above looks to be resistive, and it extends all the way to the 1.35 handle above. With this, it is only a matter of time before the sellers get involved, and an exhaustive candle would be reason enough to start selling again as this market has been so heavily resisted above. Ultimately though, I think this is a market that will continue to be a lot of back and forth trading, so short-term trades continue to be the best way around this market.
