GBP/USD Daily Forecast – 06 April

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Tuesday, Apr 05 2016

Sterling spent most of the Tuesday's session in a decline, going as low 1.4130 handle, which offered some amount of support 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 1.4080 level, recent low, and resistance above 1.4230 and 1.4250 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.

Last modified on Tuesday, 05 April 2016

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