GBP/USD Forecast August 24, 2016, Technical Analysis

The GBP/USD pair rose during the course of the day here on Tuesday, but still has quite a bit of resistance above that could come into play. That being the case, and exhaustive candle above will be a nice selling opportunity. With this being the case, I’m simply waiting to see whether or not we get enough exhaustion to start selling again as the consolidation has been rather reliable. On top of that, I’m just not comfortable owning the British pound at the moment after the so-called “Brexit” vote. With that, patience will be needed.