GBP/USD Forecast September 22, 2016, Technical Analysis

The GBP/USD pair went back and forth during the course of the session on Wednesday, as we continue to see weakness in the British pound. The 1.2850 level is the target that I have for the short-term, so any rally at this point in time should be a selling opportunity on signs of exhaustion. I also believe that a break down below the bottom of the range for the session on Wednesday would be a nice selling opportunity as well. Ultimately, this is a market that continues to punish the British pound for the vote to leave the European Union.

Economic Calendar