GBP/USD forecast for the week of August 10, 2015, Technical Analysis
The GBP/USD pair fell during most of the week but as you can see touched the uptrend line below to bounce back towards the 1.55 handle. Because of this, we feel that this market does go higher given enough time, and at this point in time we are buyers. We believe that the market will then head to the 1.57 level, and then eventually the 1.58 level. Ultimately, we have no interest in selling this market, as there is more than enough strength below to keep buyers involved.