GBP/USD Forecast January 27, 2017, Technical Analysis

The GBP/USD pair initially tried to rally, but turned around to fall during the day. I believe that there is a massive amount of support at the 1.25 handle however, and thus I am willing to buy supportive candles in that region. As far selling is concerned, we would need to breakdown below the bottom of a hammer from the Wednesday session for me to feel comfortable doing so. Once we do, then things get interesting. Until then, expect a lot of exhaustion and volatility. The British pound male formed the bottom, but every time a currency does, it is always an interesting affair.