GBP/USD Forecast March 1, 2016, Technical Analysis

The GBP/USD pair initially fell during the day on Monday, but then rallied enough to form a fairly strong candle. Nonetheless, we are below the 1.40 level, which should now be resistive considered how supportive and was in the past. At this point in time, we are simply waiting to see whether or not we get an exhaustive candle that we consider shorting again. In fact, this point in time we don’t really have an interest in buying this pair, because we believe it’s only a matter of time before the sellers take over yet again and push this market even lower.