GBP/USD Daily Forecast – 25 April

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Friday, Apr 22 2016

Sterling spent Friday's session in an uptrend, breaking above 1.44 handle, but area around 1.4450 level once again proved to be resistive, with pair pulling back slightly by the daily closing. On Monday, 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 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. At the moment. However, if we see decisive break above 1.45 handle we would be buyers for this pair.

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