GBP/USD Forecast December 15, 2016, Technical Analysis

GBP/USD daily chart, December 15, 2016

The GBP/USD pair had a slightly positive candle form for the Wednesday session. The 1.27 level continues to attract a lot of noise though, so having said that I think that it will remain choppy. If we can continue to go higher, we will then test a massive resistance barrier around the 1.2850 level above. This is an area that should continue to find sellers time and time again as it was so supportive in the past. At that point, I feel that the market is begging to be sold. At the moment though, expect a lot of volatility.

Written by FX Empire