GBP/USD Forecast September 8, 2016, Technical Analysis

The GBP/USD pair fell significantly during the course of the day on Wednesday, as we found quite a bit of resistance in the area of 1.34 above. This of course is an area that has caused quite a bit of resistance recently, so it’s not a big surprise that we turned back around. I believe that a break down below the bottom of the range for the session on Wednesday could be a selling opportunity in the market should reach down to the 1.3050 level. On the other hand, if we can break above the 1.3650 level, the market will go much higher.