GBP/USD Forecast April 6, 2016, Technical Analysis

The GBP/USD pair fell during the course of the day on Tuesday, as we continue to bang around in a consolidation area in this market. Ultimately this is a market that seems like it is going to continue to see quite a bit of volatility, but we don’t have any clear trading at the moment that we are comfortable being involved in. With this, we will wait to see whether or not we break out of this area, which we see as being bordered by 1.40 and the 1.45 handle. With fact, it’s likely that it will only be short-term back and forth trading going forward.