GBP/USD Daily Forecast – 06 May

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Thursday, May 05 2016

Sterling went back and forth in the course of the yesterday's session, with resistance around 1.4530 level and resistance around 1.4440 area. It seems that pair has plenty of support all the way to 1.44 handle, so we have no interest in selling it at the moment. Tomorrow, pair is likely to find support around 1.4440 level, at least initially, and resistance above 1.4530 and 1.4570 area in extension.

Long-term looking, as long as we are above 1.44 handle, we would be buyers for this pair, with the initial target set at 1.48 handle. Selling is not an option at the moment, but we expect a lot of volatility in the pair.

More in this category: « AUD/USD Daily Forecast – 06 May EUR/USD Daily Forecast – 06 May »

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