GBP/USD Forecast November 23, 2016, Technical Analysis

GBP/USD daily chart, November 29, 2016

The GBP/USD pair initially tried to rally on Monday but found the 1.25 level to be far too resistive. Ultimately, this is a market that continues to bounce around just below that handle so I really don’t have any interest in trading this market at the moment. Given enough time, we should get some type of impulsive candle that we can trade, but I certainly don’t see it currently, and as a result remain on the sidelines. I believe that the British pound will be easier to trade against other currencies such as the Japanese yen or even the Swiss franc.