GBP/USD Forecast July 20, 2016, Technical Analysis

The GBP/USD pair fell slightly during the course of the session on Tuesday, as we continue to see bearish pressure in this market. The 1.30 level below should be supportive, and it may even extend all the way down to the 1.29 handle. However, every time this market rallies, I am a seller as the British pound will continue to be punished for the “leave” vote that recently happened. Because of this, I have no interest in buying this pair and I recognize that the market should continue to favor the US dollar overall.