GBP/USD daily chart, September 28, 2016

GBP/USD Forecast September 28, 2016, Technical Analysis

The British pound initially fell during the day on Tuesday, but found enough support below to turn things around and shoot the market much higher. Ultimately, I believe that we will continue to go higher, but only for a short amount of time. I believe that the 1.31 level will be resistive enough that the sellers will get involved. I think we are simply trying to build up enough momentum to finally break out, but the question now remains as to how long it will take. Short-term buying opportunities, longer-term bearishness is how I look at this market.