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GBP/USD Daily Forecast – 28 April

Wednesday, Apr 27 2016

Sterling once again tested 1.46 handle in the course of the yesterday's session, but this area proved to be too resistive at the moment and pair pulled back by the end of the session, even below 1-45 handle, after FOMC statement but pair managed to finish the session above 1.4550 area. On Thursday, pair is likely to find support around 1.45 level, at least initially, and resistance above 1.46 and 1.4630 area in extension.

Long-term looking, since we have broken decisively above 1.45 handle, we have no interest in 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 Wednesday, 27 April 2016
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