GBP/USD Forecast August 25, 2016, Technical Analysis

The GBP/USD pair went back and forth during the course of the session here on Wednesday, as we continue to try to find some type of resistance above in order to start selling again. I believe that this market is going to continue to stay very negative, especially considering that the only rally that we’ve seen over the last couple of months as happen during some the most will least traded weeks of the year. Ultimately, I believe that the 1.35 level is massively resistive, and as a result it simply waiting for an exhaustive candle in order to start shorting yet again.