GBP/USD Forecast July 19, 2016, Technical Analysis

The GBP/USD pair rose slightly during the day on Monday, as we continue to grind sideways in general. However, I see a massive amount of resistance above and the 1.35 level, and that extends to the top of the gap near the 1.3650 region. With this, I’m simply waiting for some type of exhaustion to start selling, as the British pound will of course continue to be very soft in general due to the fact of the UK voting to leave the European Union. I have no interest in buying this market, at least not until we break well above that gap.