GBP/USD Forecast May 29, 2015, Technical Analysis

The GBP/USD pair went back and forth during the course of the day on Thursday, forming a slightly negative candle. However, we believe that this market should continue to drift a little bit lower but anticipate that it will be choppy to say the least. With that, we believe that it is not a market that’s capable of being bought into we get above the 1.55 level, and until then we still anticipate seen the British pound head down to the 1.51 handle given enough time. Regardless though, it’s going to be very choppy and difficult.