GBP/USD Forecast June 1, 2015, Technical Analysis

The GBP/USD pair initially fell during the course of the session on Friday, testing the 1.5250 level. This is an area that could cause a little bit of a bounce, but quite frankly we are not ready to start buying quite yet. We think that there is going to be resistance of the 1.55 level, so we are simply going to sell rallies that show signs of weakness at this point in time, or break down below the bottom of a hammer. Ultimately, we think this market remains volatile regardless what happens next.