GBP/USD Forecast December 12, 2016, Technical Analysis

The GBP/USD pair had a very quiet session on Friday, as we essentially continue to do nothing. I do recognize that there is a significant amount of resistance above the 1.2850 level, and I consider that to be the “ceiling” in this pair. I do think that we will rollover given enough times on simply looking for selling opportunity. Right now, I don’t see one, but a nice exhausted candle or an impulsive red candle would have me doing just that as I feel we need to retest the 1.20 level again for support.

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