GBP/USD Forecast January 24, 2017, Technical Analysis

The GBP/USD pair rallied on the Monday, reaching towards the 1.25 handle above. This is a level that has a lot of psychological importance, so we could see sellers jump back into the market. However, as a record this the candle looks very healthy, so it’s likely that we are going to have to wait until we see the daily close tell us what to do next. A daily close well above the 1.25 level has the British pound looking very healthy, just as an exhaustive candle could be a sign that we are going to roll over again.