GBP/USD Forecast August 12, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 12 August 2016 09:18 UTC
The GBP/USD pair fell slightly during the course of the day on Thursday, breaking below the 1.30 level. However, there is quite a bit of support all the way down to the 1.28 level below, so with that being the case I feel that the market will eventually try to break down below there, and when it does it becomes a longer-term sell. In the meantime, I am simply selling short-term bounces that show signs of exhaustion as the market was certainly is very negative. I have no interest whatsoever in selling this market.

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