GBP/USD Forecast April 20, 2016, Technical Analysis

The GBP/USD pair broke higher during the day on Tuesday, as we continue to drive towards the 1.45 level. We believe that short-term pullbacks might be buying opportunities now, as the market has been consolidating between the 1.40 level on the bottom, and the aforementioned 1.45 level on the top. Having said that though, we are getting fairly close to the top, so it’s likely that we may run out of momentum fairly soon. On the other hand, if we get some kind of exhaustive candle fairly soon, that could be a nice selling opportunity.