GBP/USD Forecast April 19, 2016, Technical Analysis

The GBP/USD pair initially fell on Monday but turned right back around to form a very positive looking candle. However, we are still very much in consolidation and approaching a resistive area that caused quite a bit of selling pressure last week. With this, we could have sellers return and with that being the case and of course all of the uncertainty in general, we are actually avoiding this pair as it doesn’t seem to have much in the way of conviction at this point. We at FX Empire will of course keep you abreast of anything that we see.