GBP/USD Forecast March 11, 2016, Technical Analysis

The GBP/USD pair initially fell during the course of the day on Thursday, but found enough support near the 1.41 level to turn things back around and break up to the 1.43 handle. If we can break above the top of the range for the day, we feel that this market will more than likely try to reach the 1.45 level given enough time, and we would be buyers. We recognize that it’s going to be a very choppy market all the way up to that area, but that is how this pair has been acting recently anyway. A break down below the bottom of the range for the day would be very negative.