GBP/USD Forecast August 25, 2017, Technical Analysis

The British pound initially rallied on Thursday, reaching towards the 1.2850 level. We did not make it though, and we have rolled over cents. I believe that the sellers will continue to enter this market, and if Janet Yellen is even remotely hawkish during her speech today, this will absolutely pummel the British pound. I still believe in selling short-term rallies, at least until we break above the 1.2850 level, and even then, I would be a bit skeptical. It certainly looks as if the sellers are in control, and I think that should continue to be the case.

GBP/USD Video 25.8.17