GBP/USD Forecast July 6, 2015, Technical Analysis

The GBP/USD pair fell slightly during the course of the session on Friday, as we continue to see weakness overall. However, there is a 1.55 barrier that should be rather supportive, and the buyers will more than likely return to the market. Because of this, we are essentially a “buy only” type of mindset right now, and as long as we can stay above the 1.55 handle, will not change that bias. With this, we think that the market will bounce and head back towards the 1.57 level, and then towards the 1.58 level after that.