GBP/USD Forecast July 6, 2016, Technical Analysis

The GBP/USD pair fell during the course of the day on Tuesday, breaking down to a fresh, new low. Because of this, I believe that the market should continue to go lower but I also recognize that the 1.30 level will be a significant amount of psychological support in this market. I believe that anytime we rally in the market, we have to be looking for an exhaustive candle in order to start selling. This is a market that is falling for good reason, and as a result should continue to do so in the foreseeable future.