The GBP/USD pair initially tried to rally during the course of the session on Tuesday, but found the 1.58 level be far too resistive. Because of this, we turned back around and we close to the day looking for support near the 1.5680 handle. There is quite a bit of noise here, so we are simply waiting for supportive candle in order to start going long. Once we get that, we are aiming for the 1.58 level yet again. We believe that ultimately this pair could continue to climb above there given enough time.
GBP/USD Forecast August 26, 2015, Technical Analysis