GBP/USD Forecast March 11, 2014, Technical Analysis

The GBP/USD pair fell during the session on Friday, but found enough support near the 1.6650 handle to bounce slightly at the end of the day. With that, we feel that this market continues to grind sideways, ultimately breaking higher though as the bullishness should continue. However, the recent move higher was extraordinarily parabolic, so we feel that this market is simply taking a rest before heading towards the 1.70 level.