The GBPUSD pair did very little during the day on Monday, forming a slightly negative candle.

We are currently sitting just above the 1.30 level, an area that is massively supportive.

I think the support extends all the way down to the 1.28 level below, so we really need to see the market break down below there before we can start selling for longer-term moves.

Rallies at this point in time it should be selling opportunities, if you get some type of exhaustive candle in order to get involved.

I have no interest whatsoever in selling.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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