GBP/USD Forecast May 24, 2016, Technical Analysis

The GBP/USD pair went back and forth during the course of the session on Monday, testing the 1.45 level in a couple of different directions. Ultimately, we will trade in the same direction that we break out of the Monday candle in. In other words, if we can break above the top of the range we are more than willing to start buying, but a move below should send this market even lower. Sell ultimately it’s just a matter of waiting to see what the market does and reacting. Until then, we are on the sidelines.

Economic Calendar