GBP/USD Forecast May 2, 2014, Technical Analysis

The GBP/USD pair rose during much of the session on Thursday, but ran into a bit of trouble once we get above the 1.69 level. With that we feel that the market might pull back a little bit in this general vicinity, but at the end of the day we feel that this market should continue to be one that’s very bullish for the longer term. We think that pullbacks will offer buying opportunities, as there’s plenty of support below, and ultimately we feel that this market is a “buy only” type of market.