GBP/USD Forecast November 4, 2016, Technical Analysis

The GBP/USD pair rallied during the session on Thursday, as the Bank of England decided not to add to quantitative easing. With this being the case, I think that we could continue to see a little bit of bullish pressure but we have the jobs number coming out of America today which of course will take front and center stage. At this point, I still look for exhaustive candles above in order to start selling, because the British pound is very soft longer-term, and I see that the 1.25 level should be resistive, just as the 1.2850 level above that should be.

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