GBP/USD Forecast February 13, 2017, Technical Analysis

The GBP/USD pair fell during the day on Friday, but found enough support underneath the 1.25 level to form a bit of a hammer. I believe that we are trying to make a stand here in the buyers will eventually push this market higher. The 1.24 level below extends down to the 1.2250 level as far as support is concerned, and I believe that the British pound is trying to form a major bottom. That’s always a messy affair, so I think that given enough time we will reach towards 1.27 level, perhaps even the 1.2750 level. However, it may not be the easiest move to hang onto.