GBP/USD Forecast August 23, 2016, Technical Analysis

The British pound did rally a bit during the course of the day on Monday, using the 1.30 level as a support barrier. That being the case, looks as if sooner or later we should find sellers above as we continue to simply go back and forth in the recent consolidation area. If we rally from here, there’s a chance that the markets could find sellers above, and would be more than willing to start selling on signs of exhaustion. I believe that the 1.35 level above should be massively resistive above.