GBP/USD Forecast September 29, 2016, Technical Analysis

The GBP/USD pair went back and forth during the course of the session on Wednesday, showing a fairly neutral candle. At this point in time, it appears that the 1.30 level is a bit of a magnet for price, and having said that it’s only a matter of time before we have to make a serious decision. I think rallies will be sold off though, as we then reach down to the 1.2850 level below that. A break down below there sends the market down to the 1.25 handle below. I have no interest whatsoever in buying this market.