The GBP/USD has rallied slightly during the trading session on Thursday, as we are hanging around the 1.18 level. It’s worth noting that level has been a bit of a magnet for price for most of the week, but it’s also worth noting that the level is below the previous low, meaning that we are still very much in a market that is overall negative. I think at this point any time we rally, there will be plenty of people willing to jump into this market and start shorting again.