The GBP/USD pair initially tried to rally during the session on Friday, but failed and fell flat. Because of this, we ended up testing the 1.51 level, and it now seems like we are heading directly to the 1.50 level. On top of that, we have an absolutely wicked shooting star on the weekly chart, and that of course is very bearish as well. With this being the case, we have no interest whatsoever in buying this market and recognize that short-term rally should offer a nice selling opportunities. The 1.50 level will of course be supportive, we feel it’s only a matter of time before we break below there.