GBP/USD Forecast August 30, 2017, Technical Analysis

The British pound initially rallied during the session on Tuesday, but found enough trouble near the 1.30 level to turn around and fall again. I think that sooner, rather than later, we will see seller shall back into this market, and even if we don’t, there are other currencies to play against the US dollar that will move much quicker. Because of this, I believe that selling is the only trade to take. I don’t know that we have that signal yet, but a move below the 1.29 level would of course show significant weakness to start considering that move. It is not until we break above the 1.3050 level that I would consider buying, and even then, I still think that the euro will be stronger, thereby making the EUR/USD pair more likely to be where I put my money.

GBP/USD Video 30.8.17