GBP/USD Forecast January 26, 2016, Technical Analysis

The GBP/USD pair fell during the day on Monday, forming a slightly bearish candle. However, we have a longer-term downtrend anyway, so quite frankly we believe that this market will continue to fall. A break down below the bottom of the range for the session on Monday is reason enough to start shorting, and that’s exactly what we will do. Short-term rallies that show signs of exhaustion will also be reasons enough to start selling going forward. We have no interest whatsoever in buying this market, as the US dollar continues to be favored.