GBP/USD Forecast February 19, 2016, Technical Analysis

The GBP/USD pair initially tried to rally during the day on Thursday, but turned back around to form a bit of a shooting star. The shooting star of course is a negative sign, and that of course means that the market should continue to find resistance above. Ultimately, that is a sign in our opinion that we should continue to struggle, so short-term rallies will be selling opportunities as far as we can see. We have no interest in buying, as we recognize that the market looks very soft at the moment.