GBP/USD Forecast December 19, 2016, Technical Analysis

The British pound bounced off an uptrend line during the day on Friday as we reached back towards the 1.25 handle. I still think this market breaks down given enough time, and a break down below the bottom of the range for the session on Friday is reason enough to sell. I also like selling exhausted candles above, as there is a certain amount of bearish pressure near the 1.2750 region. The Federal Reserve is looking to raise interest rates several times this coming year, while the Bank of England is light years away from doing the same.

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