GBP/USD Forecast March 23, 2016, Technical Analysis

The GBP/USD pair fell during the day on Tuesday as we tested the 1.42 level. We had a pretty significant drop, but there is a significant amount of support just below though and as a result we are looking for supportive candle in order to start buying. We’ll have it yet, so obviously we are stepping to the sidelines but we do recognize of the 1.40 level is going to be the “floor” in this market. With this, we anticipate volatility if nothing else going forward as there are a lot of different things pushing the British pound around right now.