GBP/USD Daily Forecast – 21 April

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Wednesday, Apr 20 2016

Sterling did not manage to hold gains above 1.44 handle in course of the Wednesday's session, however 1.4350 level did offer some amount of support. Pair was traded in a range within 70 points with mixed job figures being of little impact. As for tomorrow, focus will be on UK Retail Sales figures. Pair is likely to find support around 1.43 level, at least initially, and resistance above 1.44 and 1.4450 area in extension.

Long-term looking, despite recent uptrend, we are still within consolidation range, with 1.40 handle being the floor and 1.45 handle as a ceiling for the pair, so we believe it is best to stay on the sidelines.

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