GBP/USD Forecast November 30, 2016, Technical Analysis

GBP/USD daily chart, November 30, 2016

The GBP/USD pair rallied at the open on Tuesday, testing the 1.25 handle. This is a market that continues to see a lot of volatility in this area, and as a result I think it can be difficult to trade this pair. I prefer selling, at least from a longer-term perspective, but quite frankly it’s been so noisy I’m going to continue to sit on the sidelines until we get a significant move in one direction or the other. Until then, I think it’s probably easier to trade the British pound against other currencies.