GBP/USD Forecast August 9, 2016, Technical Analysis

The GBP/USD pair did very little during the day on Monday, forming a slightly negative candle. We are currently sitting just above the 1.30 level, an area that is massively supportive. I think the support extends all the way down to the 1.28 level below, so we really need to see the market break down below there before we can start selling for longer-term moves. Rallies at this point in time it should be selling opportunities, if you get some type of exhaustive candle in order to get involved. I have no interest whatsoever in selling.

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