GBP/USD Forecast July 14, 2016, Technical Analysis

The GBP/USD pair rose initially during the day on Wednesday but turned around to show negativity. There is quite a bit of noise just above and extending all the way to the 1.35 handle, so it’s not a huge surprise that we ran into a bit of bearish pressure. If we can continue to break down below, and by extension break down below the bottom of the candle during the day on Wednesday, I would be a seller as the market should go down to the 1.30 level next. If we rally from here, and exhaustive candle would be reason enough for me to sell as well.