GBP/USD Forecast March 2, 2017, Technical Analysis

The GBP/USD pair fell during the day on Wednesday, breaking below the 1.24 level for the first time in several weeks. However, we have seen a bit of a bounce towards the end of the day so I believe that sooner rather than later buyers will get involved. There is a significant amount of support at the 1.2250 level, so it’s a little bit early to start selling. I believe that we will have choppy conditions going forward, so perhaps sitting on the sidelines would be the way to go during today’s session.