GBP/USD Daily Forecast – 04 April

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Friday, Apr 01 2016

Sterling spent most of the Friday's session in a decline, even breaking below 1.42 handle after US NFP figures, but it managed to rebound slightly by the daily closing. However, this is a sign of a general weakness in the pair and also hint that there is no clear trend at the moment. As for Monday, pair is likely to find support around 1.4150 level and resistance above 1.4280 and 1.43 area in extension.

Long-term looking, now when we have seen break below 1.43 handle, we believe that could now be heading towards 1.40 handle, which is seen as a floor of this large consolidation between 1.40 and 1.45 handle. For now, we would remain on the sidelines.

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