GBP/USD Forecast May 16, 2016, Technical Analysis

The GBP/USD pair broke down during the course of the session on Friday, clearing quite a bit of support. However, it looks as if we should continue to go lower than that as well, so with that being the case we expect a grind down to the 1.42 level. Ultimately, every short-term bullish move will continue to be possible selling opportunities on a market that should continue to go lower given enough time. Having said that though, it’s difficult to imagine that it will be easy to go lower, but most certainly doesn’t look like are about to go higher.

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