GBP/USD Daily Forecast - 30 December
Sterling finished yesterday's session few points above 1.5520 level. It was a less eventful session with no data releases both from UK and USA but pair spent most of it in decline testing 1.55 handle once again. We believe that this is the sign of general bearishness and though we are still within consolidation range and would place any larger bids at the moment, we do recognize the fact that break below 1.55 handle would be a signal for start selling the market with a target set at 1.50 handle.
Tomorrow's session should no bring any huge moves, since it is holiday season, and with New Years Eve and New Year on Wednesday and Thursday we can expect a less liquidity at the markets. Area around 1.55 handle and 1.5480 level in extension should offer short-term support so this is where we would consider buying the pair, while we can expect resistance above 1.5550 level so this is where we would sell the pair in short-term trends.
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