GBP/USD Daily Forecast – 20 April

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Tuesday, Apr 19 2016

After newest polls gave advantage to Remain campaign, Sterling continued its uptrend and broke above 1.44 handle. As for tomorrow, focus will be on UK job figures. Pair is likely to find support around 1.4350 level, at least initially, and resistance above 1.4450 and 1.4480 area in extension.

Long-term looking, despite this uptrend, we are still within consolidation range, 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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