The GBP/USD pair broke down during the session on Monday, testing the 1.5575 region. That being the case, it looks like we are trying to break down below support, and that the downward trend could continue. However, we need to break down below the 1.55 level in order to be comfortable selling. Between here and there, we feel that it is simply one of those markets that you can sell every time it rallies, using short-term charts basically as your entry points. After all, this is Christmas week, and as a result big moves probably aren’t in the cards.
