GBP/ USD Forecast February 1, 2016, Technical Analysis

The GBP/USD pair fell during the course of the session on Friday, but found a little bit of support below the 1.42 handle. With this being said, the market looks as if it is trying to grind itself sideways, and perhaps take a break from the massive downtrend that we have been in. Any rally at this point in time should be a selling opportunity on signs of exhaustion, and with that we feel that the market will continue to see selling of the British pound going forward as there has been more than enough reason to do so.

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