The GBP/USD pair went back and forth during the course of the day on Friday, essentially settling on a neutral candle. However, it does look like we are trying to break higher so therefore we are buyers of short-term pullbacks. We believe that the market will then head towards the 1.58 handle given enough time, and that it is well supported below, extending all the way down to the 1.55 support region. We believe that the British pound will continue to be one of the better performers, and the uptrend line of course has us thinking that the buyers are going to take over again and again.
GBP/USD Forecast August 24, 2015, Technical Analysis