GBP/USD Daily Forecast – 27 April

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Tuesday, Apr 26 2016

It was quite a session for Sterling on Tuesday, with pair even breaking above 1.46 handle, but with resistance above 1.4630 level. From there, pair pulled back to below 1.46 handle to the daily closing, but bullishness is still obvious in the pair. On Wednesday, pair is likely to find support around 1.45 level, at least initially, and resistance above 1.46 and 1.4630 area in extension, with focus on UK GDP figures.

Long-term looking, since we have broken decisively above 1.45 handle, we have no interes tin selling the pair and believe that pair could now go much higher, with initial target set at 1.47 and 1.48 handle in extension.

Last modified on Tuesday, 26 April 2016

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