GBP/USD Forecast December 29, 2016, Technical Analysis

The GBP/USD pair fell again on Wednesday, as we continue to see bearish pressure against the British pound. Any rally at this point in time should be an opportunity to start selling, as the berries pressure has been picking up against the British pound for some time. Ultimately, I think we are going to try to reach the 1.20 level, and thus I have no interest in buying this market as the British pound continues to soften up due to the exit from the European Union. On the other side of the equation is the Federal Reserve looking to raise interest rates, so we should continue to see bearish pressure.