GBP/USD Forecast August 30, 2016, Technical Analysis

The British pound fell slightly during the course of the session on Monday, as we continue to reach down to the 1.30 level below. If we break down below there, it’s very likely that the market will probably reach towards the 1.2850 level below there. I do think that eventually the British pound falls even further, and I have a longer-term target of 1.25 going forward. With this, I am a seller of short-term rallies as they offer value in the US dollar, especially considering that Janet Yellen has recently stated that interest-rate hikes are still a very real possibility.

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