GBP/USD Forecast August 26, 2016, Technical Analysis

The GBP/USD pair fell slightly during the course of the session on Thursday, and as you can see the sellers have jumped back in to take advantage of value found in the US dollars this point in time. Ultimately, I believe that this market does continue to go lower and that the support down at the 1.2850 level is more than likely going to happen. Nonetheless, I have no scenario in which a willing to buy this pair, so to simply waiting to see whether or not I get the opportunity to hang onto a longer-term selling trade.