GBP/USD Forecast July 3, 2015, Technical Analysis

The GBP/USD pair went back and forth during the course of the day on Thursday, essentially settling nothing. However, the one thing that we do notice is that the 1.56 level is trying to offer a bit of support. We still recognize that the 1.55 level should be essentially a “floor” in this market, so we are simply waiting for either a bounce or supportive candle in order to start buying again. With this, we have no interest in selling the British pound as we believe it will be one of the better performers going forward.