GBP/USD Forecast December 6, 2016, Technical Analysis

The GBP/USD pair initially dipped at the open but found enough support to continue to push against the 1.27 handle. If we can break above there, I think the next area that were going to test of the 1.2850 level. That’s an area that I think should continue to be important as it used to be support, and it should now be resistance. An exhaustive candle at that area should be a nice selling opportunity as we continue to expect interest-rate hikes out of the Federal Reserve, while the British of course are not going to be raising rates anytime in the foreseeable future.

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