The GBP/USD pair initially tried to rally during the course of the session on Thursday but then turned around to form a fairly negative candle. I do recognize that there is a bit of support just below, but eventually I think we not only grind lower than here, but lower than the 1.2850 level as well. Once we get below there, I believe that the market will then reach down to the 1.25 handle. I think rallies at this point in time should find exhaustive candles that we can take advantage of and start selling as well.
