GBP/USD Forecast February 1, 2017, Technical Analysis

The GBP/USD pair initially fell on Tuesday, but turned around and broke above the 1.25 level during the day. The market looks as if it is ready to reach towards the 1.2750 level above. The market has recently seen a lot of buying pressure, and I believe that the British pound is going to continue to strengthen. Because of this, I am a buyer and have no interest whatsoever in shorting this market as I believe that the British pound may have bottomed permanently. There is going to be a lot of volatility though, please keep that in mind.