GBP/USD Broke Below 1.5360

GBP/USD continued on its way down after the Greek referendum and today it finally reached the support at 1.5360, visible on the weekly filter chart. I had my doubts whether or not it will be able to break below that level, but it did so almost effortlessly and is currently still descending. Under these circumstances I can only conclude that the pair will likely continue to descend until it reaches the support at 1.5250, also visible on the weekly filter chart. Time will tell whether or not the pair will be able to break below that level as well, but should it do so I will likely start considering opening some long-term short positions.