GBP/USD Daily Forecast - 21 March

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Friday, Mar 18 2016

Sterling once again tested 1.45 handle in the course of the Friday's session but then pulled back, all the way to 1.44 handle, where it found significant amount of support and once again broke higher by the end of the session. On Monday, we expect some amount of support around 1.44 handle, as this was previously resistance, while area above 1.4550 handle, should offer some amount of resistance.

Long-term looking, as it was proven on Friday, we can expect a significant amount of resistance above 1.45 handle, so we would first like to see break above this area before placing any larger buying bids. However, we have no interest in selling the pair at the moment.

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