GBP/USD Daily Forecast – 11 April

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Friday, Apr 08 2016

Sterling initially fell in the course of the Friday's session, after weaker than expected UK Industrial Production figures, but by the end of the session managed to rebound and break above 1.41 handle once again. This is just a continuation of recent consolidation, with pair just going back and forth, without any clear trend. On Monday, pair is likely to find support around 1.4040 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 Friday, 08 April 2016

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