GBP/USD Daily Forecast - 25 March

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Thursday, Mar 24 2016

Sterling was initially pushed lower in the course of the yesterday's session, but found area around 1.4050 handle to be supportive enough in order to rebound and break once again above 1.41 handle supported by better than forecasted UK Retail Sales figures. We can expect a bit steadier session tomorrow, with Good Friday holiday in the UK. Pair is likely to find support around 1.41 level and resistance above 1.42 area.

Long-term looking, despite this rebound, we have no interest in buying the pair at the moment, as long as 1.45 handle. However, pair has significant amount of support between 1.41 and 1.40 handle, so supportive candles in that general area could offer nice short-term buying opportunity.

Last modified on Thursday, 24 March 2016

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