GBP/USD Daily Forecast - 07 January
Tuesday's session brought further decline to Sterling this time supported with weaker than expected Services PMI figures, with Sterling finishing the session just few points above 1.5540 level. With no data releases from the UK tomorrow, any type of resistive candles above 1.52 handle would be short-term selling signal
while supportive candles around 1.5080 area initially and 1.5050 level in extension would most likely offer short-term buying opportunity. On a long-term basis, we have no interest in buying this pair, as we believe that it is most certainly heading towards 1.50 handle. This area is significant on long-term charts so we believe this is where we can expect bounce out.
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