GBP/USD Price Forecast – British Pound Continues to Test Lower Levels.

The British pound did recover a bit during the trading session on Monday, but as you can see has given back quite a bit of the gains.

The British pound has gone back and forth during the course of the trading session on Monday to kick off the week on the back foot. The market did gap a little bit higher to kick off the session, but it is finding the continuation of this market move a bit difficult. All things been equal, I think there is plenty of resistance above that will continue to cause some major issues, especially near the 1.33 handle. Above there, we have a massive amount of wicks on several candlesticks, as the 1.34 level is even more resistive.

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