The GBP/USD pair fell during the course of the day on Thursday, but found enough support just above the 1.52 level to turn things back around and form a hammer. With this, it will be interesting see what happens next but we believe that a bounce is probably coming. Any bounce at this point in time the show signs of resistance above though should be a selling opportunity, as we have broken down below a significant uptrend line a couple of weeks ago. Ultimately, we believe that the 1.55 level above will continue to put downward pressure on this market.
GBP/USD Forecast September 4, 2015, Technical Analysis