GBP/USD Forecast July 28, 2015, Technical Analysis

The GBP/USD pair bounced back and forth during the course of the session on Monday, using the 1.55 level as support. However, we did not hang onto the gains the entire session. With this, we think that the market will continue to chop around, but we think it is more than likely going to head towards the 1.57 level. With this, the market is bullish in our opinion, but it’s not possibly so, so we would be quick to take profits if we see any shakiness on a rally. We have no interest in selling though.