GBP/USD Daily Forecast – 01 April

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Thursday, Mar 31 2016

Sterling found support around 1.4330 level and after that broke once again above 1.44 handle, in the course of the yesterday's session, but found area above 1.4420 level to be too resistive at the moment, and pulled back by the end of the session, breaking again below 1.44 handle, which indicates that pair could struggle now to break higher,since this was the scenario we also witnessed on Wednesday. Tomorrow we would pay attention to US NFP figures. Pair is likely to find support around 1.43 level and resistance above 1.4450 and 1.4480 area in extension.

Long-term looking, now when we have seen break above 1.43 handle, we believe pair could reach 1.45 handle given enough time and thus we would be buyers on a break above day's high as well as pullbacks that show signs of support. Selling is not an option at the moment.

More in this category: « AU/USD Daily Forecast – 01 AprilD EUR/USD Daily Forecast – 01 April »

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