GBP/USD Forecast June 29, 2016, Technical Analysis

GBP/USD climbed during the course of Tuesday's session, but did get back some of the gains. This is essentially sort of “dead cat bounce”, because the assumption is that the British pound should be devalued over the longer term. With this, I’m looking for correction on short-term rallies in order to sell the British pound again. This could be confirmed against US dollar, which will certainly enjoy it’s “safe haven” status in this type of uncertainty. With that, sentiment for this pair remain bearish.

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