The GBP/USD pair broke down below the bottom of the uptrend line that has been supporting the market all summer during the day on Thursday. Because of this, we feel that this market is probably going to continue to see softness, and as a result short-term rallies that show signs of exhaustion should be selling opportunities now. The 1.52 level below should be supportive, and as a result we think that the market will probably stop there. However, we think that something as change, and as a result it looks like we may start dropping from here.
