GBP/USD Forecast November 21, 2016, Technical Analysis

The British pound fell during the day on Friday, as we continue to reach towards the 1.23 level. If we can break down below there, the market should then reach towards the 1.21 handle below, or possibly even break down to the 1.20 level underneath there. I have no interest in buying, and I believe that short-term pullbacks will offer selling opportunities on signs of exhaustion that should continue to appear in this market. Ultimately, this is a market that has a lot of the negativity associated with that, and I believe that it continues going forward.

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