GBP/USD Daily Forecast – 13 April

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Tuesday, Apr 12 2016

Sterling initially rose in the course of the Tuesday's session, but found resistance around 1.4330 handle, and was then pushed lower, all the way to 1.42 level, where pair found some amount of support and managed to rebound 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, we would pay attention to US figures. Pair is likely to find support around 1.42 level, recent low, 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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