GBP/USD Forecast February 16, 2016, Technical Analysis

The GBP/USD pair fell during the course of the day on Monday, but we still remain above the 1.44 level at this point in time. That of course is a sign that we remain within consolidation, so we believe that this market will more than likely bounce. However, what you are a short-term trader, this is probably not the place to be at the moment. It appears that the market is consolidating between the 1.44 level and the 1.46 handle. At this point in time, we are willing to stay on the sidelines.