GBP/USD Forecast April 15, 2016, Technical Analysis

The GBP/USD pair initially fell during the course of the day on Thursday, but turned back around to form a hammer. The hammer of course is a bullish sign, and with that being the case we could get a bit of a bounce from here. A break above the top of the hammer probably sends this market looking towards the 1.4250 level again, as we continue to tighten the overall range. We are still within the larger consolidation area though, and as a result we feel that this market is probably best left alone at the moment.