GBP/USD Below 1.6200

GBP/USD - Below 1.6200

Well... we were a few days late, but the Pound broke below the 1.6200 level. We don't like the circumstances behind the late move down, as we've seen too much volatility for our strategy to be effective. We still hold to our notion that the USD will continue to gather strength near term. Our longer term outlook is for continuous USD decline.