GBP/USD Forecast May 1, 2017, Technical Analysis

The GBP/USD pair initially fell on Friday but turned around and continue to show bullish pressure. This market has clearly broken out, and I believe that we will continue to go much higher. The 1.3450 level above should be a target longer-term, as the market should reach towards the top of the consolidation area that the market had been in previously. I think pullbacks will continue to offer buying opportunities, as the British pound is one of the favored currencies in the Forex world currently. I have no interest in shorting I believe that the British pound has taken off.

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