GBP/USD Forecast October 19, 2016, Technical Analysis

The GBP/USD pair rallied during the course of the day on Tuesday, breaking above the 1.23 handle. At this point in time, this is a market that could rally for a while, but I’m waiting to see whether or not we get some type of exhaustive candle in a concert selling. I have no interest whatsoever in buying this market, and I do believe that eventually that we will return to selling and punishing the British pound going forward for the exit vote. Given enough time, I will be selling yet again.