GBP/USD Daily Forecast – 15 April

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Thursday, Apr 14 2016

Sterling was pushed lower in the course of the yesterday's session, going all the way to 1.41 handle, where pair found some amount of support and managed to rebound slightly by the end of the session. There will be no major data releases from the Uk tomorrow, so pair is likely to find support around 1.41 level, at least initially, and resistance above 1.42 and 1.4230 area in extension.

Long-term looking, as there is no clear trend at the moment, with 1.40 handle being the floor and 1.45 handle as a ceiling for the pair, we believe it is best to stay on the sidelines. However, we do recognize that there is more bearish pressure in the pair at the moment.

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