GBP/USD Forecast March 24, 2016, Technical Analysis

The GBP/USD pair initially fell during the day but did find a little bit of support near the 1.41 level below. That being the case, it looks like we will eventually find buyers in this general vicinity so we are simply waiting to see if we get a supportive candle. We do, we are buyers as we should return to the top of the consolidation area. That could be a 500 pips move given the chance. However, at this point in time we are very hesitant to get involved as there is still little bit of “no man’s land” underneath.