GBP/USD Forecast November 28, 2016, Technical Analysis

GBP/USD daily chart, November 28, 2016

The British pound did almost nothing during the day on Friday, as we continue to go back and forth below the 1.25 handle. This is a market that continues to be very choppy, and as a result really has no interest on my part in order to get involved. I believe that this is a market that needs to continue to build up momentum in order to go one direction or the other, and quite frankly this is essentially “dead money” at this point in time. Ultimately, this is a market that will have to make a decision, and once it does I will let you know what I do.