GBP/USD Forecast February 12, 2016, Technical Analysis

The GBP/USD pair fell during the day on Thursday but did find enough support at 1.44 to turn things around and form a little bit of a hammer. Ultimately, it looks as if the market is ready to continue going sideways overall, so we are not looking to make big moves at this moment in time. We think that short-term traders may continue to push this market from the 1.44 level on the bottom to the 1.46 level on the top, by is not until we break out of that range that we are thinking of putting serious money to work.