GBP/USD Forecast February 8, 2016, Technical Analysis

The GBP/USD pair fell a bit during the course of the session on Friday, but did get back some of the losses by the time we closed. It appears that the market needs to break above the top of the shooting star from Thursday in order to continue to go higher, but at this point in time it looks as if we very well could do that. Ultimately, this is a market that is going to continue to be volatile, and we do believe that the longer-term downtrend will continue, but it appears that we need to pull back in order to build up enough momentum to break down.