GBP/USD Forecast January 26, 2017, Technical Analysis

The British pound took off during the day on Wednesday, as we have cleanly broken above the 1.25 handle. Because of this, the pound should continue to be favored, and I think we will continue to see that short-term pullbacks will be a buying opportunity. Ultimately, if we can reach towards the 1.2750 level, we will fight significant resistance. Above there, the markets free to go much higher. I have no interest in shorting this market anymore, we have seen far too much in the way of impulsivity as of the last couple of weeks.