GBP/USD Daily Forecast - 26 December

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Wednesday, Dec 24 2014

Sterling went back and forth during the yesterday's session but remained above 1.55 handle which offered support with a daily closing around 1.5560 area. Tomorrow's session should be a steadier one since it is Boxing Day, UK banks will be closed and there will be no data releases. Pair is likely to find support around 1.5530 level, and resistance near 1.56 handle so these would be our short-term buying and selling points.

In long-term trends we are still neutral for this pair and would not place any larger bids at the moment. However, if we see decisive break below 1.55 handle we would be more than comfortable selling the pair. Buying is not an option until we see break above 1.58 handle, what does not seem very likely in the next few session.

Last modified on Thursday, 25 December 2014

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