GBP/USD Daily Forecast – 08 April

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Thursday, Apr 07 2016

Sterling spent most of the Thursday's session in a decline, going as low 1.4050 handle, which offered some amount of support and slightly rebounded 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 1.40 level, recent low, and resistance above 1.4150 and 1.4180 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 Thursday, 07 April 2016

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