GBP/USD Forecast May 13, 2016, Technical Analysis

The GBP/USD pair initially fell during the day on Thursday but then turn right back around a break above the 1.45 level again. With this being the case, looks as if the British pound is going to continue to grind higher against the US dollar, and that should send money back into this market reaching towards the 1.4750 level again. We are buyers on a break above the top of the range during the course of the session on Thursday, and believe that the uptrend will continue and eventually try to get to the 1.50 level. Pullbacks represent value right now that traders will continue to take advantage of.