GBP/USD Forecast April 10, 2017, Technical Analysis

GBP/USD daily chart, April 10, 2017

The GBP/USD pair fell significantly during the session on Friday, as we have broken below the 1.24 handle. Closing at the bottom of the range is very bearish and it now looks as if we are going to continue to go lower. I think it’s only a matter of time before sellers return on short-term rallies, but I also believe that the support below will eventually turn things around. Short-term, I’m a seller but longer-term I believe that the market will try to turn around. In the meantime, I’m looking for short-term selling opportunities.