GBP/USD Daily Forecast – 05 April

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Monday, Apr 04 2016

Sterling spent most of the Monday's session in a n uptrend, going as high as 1.43 handle, which offered some amount of resistance by the end of the session. This is just a continuation of recent consolidation, with pair just going back and forth, without any clear trend. Tomorrow, pair is likely to find support around 1.42 level, from where pair rebounded yesterday, and resistance above 1.4330 and 1.4350 area in extension.

Long-term looking, as there is no clear trend at the moment, with 1.140 handle being the floor and 1.45 handle as a ceiling for the pair, we believe it is best to stay on the sidelines.

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