GBP/USD Forecast January 28, 2016, Technical Analysis

The GBP/USD pair fell during the course of the day on Wednesday, as we continue to see quite a bit of bearish pressure in this market. The downtrend of course continues, so we are very interested in shorting this market on short-term rallies, and of course breakdowns below the bottom of the range for the day. We have no interest whatsoever in buying as the US dollar continues to be the strongest currency around the world, and we also have the added potential volatility due to the announcement coming out of the United Kingdom during the day, which is the Preliminary GDP numbers.