GBP/USD Forecast August 19, 2016, Technical Analysis

The GBP/USD pair broke higher during the course of the session on Thursday, clearing the 1.30 level. However, I believe that this market has quite a bit of resistance above, so it simply waiting to see exhaustion that I can to get manage up. Once I get that exhaustion, it could very well be an opportunity to start selling yet again in the longer-term downtrend. While I recognize that the US dollar has been fairly weak lately, the reality is that there are a lot more concerns with the United Kingdom at the moment and there is whether or not the Federal Reserve raise interest rates.