GBP/USD Daily Forecast – 29 April

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Thursday, Apr 28 2016

Sterling spent yesterday's session in an uptrend going all the way to 1.46 handle, which is still quite resistive, but pair managed to remain above it to a daily closing which is of course a bullish sign . On Friday, pair is likely to find support around 1.4550 level, at least initially, and resistance above 1.4640 and 1.4670 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 Thursday, 28 April 2016

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