GBP/USD Forecast September 19, 2016, Technical Analysis

The GBP/USD pair fell apart during the course of the day on Friday as we crashed towards the 1.30 level. Given enough time, we should continue to see negativity in this market and therefore think rallies will offer selling opportunities. Ultimately we should go to the 1.2850 level, and then perhaps breaking down below there. If we break down below there, the market should continue to reach towards the 1.25 handle. Ultimately, I have no interest whatsoever in buying the British pound over the US dollar anytime soon. I believe that the volume picking up after the summer break will continue to add more bearish pressure.