GBP/USD Forecast October 27, 2016, Technical Analysis

The GBP/USD pair rallied slightly during the day on Wednesday, as we continue to try to form some type of base in this area. Ultimately though, I believe that any rally will be sold off sooner or later, and I am looking for exhaustive candles after those rallies in order to start shorting. I think that the market will eventually try to break down below the 1.20 level, but it will probably take several attempts. With this being the case, I am not interested in buying, and I look at the 1.2850 level as the “ceiling” in this market overall. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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