GBP/USD Forecast January 5, 2017, Technical Analysis

The British pound had a slightly positive session against the US dollar on Wednesday, as we continue to see the market try to form a little bit of a base. I still believe that the sellers are above and waiting, so one signs of failure I’m willing to short this pair. I have no interest in buying, because quite frankly there are far too many questions about the British economy currently. On the other side of the Atlantic, we have the Federal Reserve looking to raise interest rates, which of course is always good for a currency.