GBP/USD daily chart, July 21, 2016

GBP/USD Forecast July 21, 2016, Technical Analysis

The GBP/USD pair bounced slightly during the course of the session on Wednesday, as we continue to grind back and forth. Ultimately though, this is a market that seems to be very soft so therefore it’s likely that an exhaustive candle above will be reason enough to start selling. The 1.35 level above seems to be a bit of a “ceiling” in this market, and with the United Kingdom leaving the European Union it makes quite a bit of sense that we continue to the downside over the longer term. I have no interest in buying this pair.