GBP/USD Forecast February 29, 2016, Technical Analysis

The GBP/USD pair initially tried to rally during the course of the session here on Friday, but found the area above the 1.40 level be far too resistive to continue going higher. Because of this, looks as if the market is ready to continue going lower, because we have made a fresh, new low. At this point, we anticipate that the market could very well go down to the 1.35 handle, and with that being the case every time we rally we are willing to sell, just as we are willing to sell breakdowns.