GBP/USD Forecast May 19, 2016, Technical Analysis

The GBP/USD pair initially fell during the day on Wednesday, but turned around to slice through the top of the shooting star from the Tuesday session. This of course is a very bullish sign, and as a result we are buyers of the British pound now on short-term pullbacks as it should represent value after the obvious breakout. The 1.48 level above will be the target, and eventually we will break above there and reach towards the 1.50 level given enough time. Selling isn’t even a thought at this point, as we have seen such a bullish move.