GBP/USD Daily Forecast – 26 April

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Monday, Apr 25 2016

Sterling was pushed higher in the course of the yesterday's session, testing 1.45 handle, which proved to be too resistive at the moment, with pair pulling back by the daily closing. On Tuesday, pair is likely to find support around 1.4440 level, at least initially, and resistance above 1.45 and 1.4520 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 and daily closing 1.45 handle we would be buyers for this pair.

More in this category: « AUD/USD Daily Forecast – 26 April EUR/USD Daily Forecast – 26 April »

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