GBP/USD Forecast July 25, 2016, Technical Analysis

The British pound fell again during the day on Friday, as we continue to grind our way down towards the 1.30 and a. There is quite a bit of support just below though, so having said that it’s not necessarily going to be easy to search selling here. I would prefer to see some type of rally that sells off that we can get involved in on shorter-term charts more than anything else. A break down below the 1.29 level would free this market to go down to the 1.25 level after that. I have no interest in buying the Euro at the moment.

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