GBP/USD Forecast September 5, 2016, Technical Analysis

The British pound initially tried to rally during the day on Friday, but turn right back around and form a shooting star. The shooting star is roughly where I wanted to see signs of exhaustion to start selling, so if we can break down below the bottom of the range for the day on Friday, I am aiming for something close to the 1.3050 level at that moment. I have no interest whatsoever in buying, and I believe that the British pound will continue to sell off given enough time. With that, I remain bearish.