The GBP/USD pair initially rallied during the course of the day on Monday, but gave back about half of the gains during the day. With this being the case, the market looks as if it is still trying to break down below the 1.30 level, and if we get below there I think we will reach towards the 1.2850 level where there should be a significant amount of support. With this being the case, I feel that it is a likely lower move that we will see next but it might be choppy in the meantime.
