GBP/USD Forecast December 21, 2016, Technical Analysis

The GBP/USD pair fell during the session on Tuesday, breaking below the bottom of the uptrend line from previous weeks. Because of this, I think that the market is going to start drifting lower, and if we can stay below the previous uptrend line that I have marked on the chart, I’m a seller overall. I think that the market will reach to the 1.20 level given enough time, and with that being the case I am looking for continued negativity. I don’t necessarily think that it’s going to be a massive selloff, just that we will grind lower.

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