GBP/USD Forecast December 5, 2016, Technical Analysis

The GBP/USD pair broke higher during the day on Friday, as we start to approach the 1.27 level yet again. This is an area that I think will break, and once it does we will probably make an attempt to reach the 1.2850 level above. This area is supportive in the past, so it should now be resistive. I am looking for a short-term move higher, and then an opportunity to sell this market on signs of exhaustion in that particular region above. I believe that this reprieve for the British pound will get turned around.

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