GBP/USD Forecast November 17, 2016, Technical Analysis

The British pound did almost nothing during the day on Wednesday against the US dollar, as we continue to drift in this general vicinity. I believe that this is a market that continues to grind sideways, and with that being the case it’s likely that the sellers will return sooner or later as we have seen such a negative longer-term trend. Because of this, waiting to see whether not we get an impulsive candle in one direction or the other before us are trading, and am sitting on the sidelines currently when it comes to the British pound.