GBP/USD Daily Forecast – 22 April

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Thursday, Apr 21 2016

Sterling was initially pushed higher in the course of yesterday's session, but found significant amount of resistance above 1.4440 level in order to pullback and form shooting star as a daily candle. Tomorrow, pair is likely to find support around 1.4250 level, at least initially, and resistance above 1.4360 and 1.44 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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