GBP/USD Forecast June 29, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 29 June 2016 05:15 UTC
The GBP/USD pair rose slightly during the course of the session on Tuesday, but did get back some of the gains. This is essentially a “dead cat bounce” of sorts, because we do know that the British pound should be devalued over the longer term. With this, I’m looking for exhaustion on short-term rallies in order to sell the British pound again and again. This is especially true against the US dollar, which will certainly enjoy it’s “safe haven” status in this type of uncertainty. With that being the case, I don’t even have a scenario in which I’m looking at buying the GBP.

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