GBP/USD Forecast November 18, 2015, Technical Analysis

The GBP/USD pair initially fell during the day on Tuesday, but broke back to the upside and above the 1.52 level during the day. Nonetheless, we are still very much in consolidation, so we feel that this market is probably one that best left alone at the moment. We believe that this market has quite a bit of bearish pressure on it though, so we are much more comfortable selling on a break down than anything else currently. Even if we break out to the upside, we feel there is more than enough resistance above to offer selling opportunities.