GBP/USD Daily Forecast – 25 November

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Tuesday, Nov 24 2015

Sterling was pushed lower in the course of the yesterday's session due to more dovish than expected BoE Inflation Report, in which it was stated that we cannot expect rate hike anytime soon. Pair went below 1.51 handle and is now near support at 1.5050 handle. As for tomorrow we would pay attention to US data.

Pair is likely to find support around 1.50 handle in a case of a further decline, while we can expect resistance around previous supportive points at 1.51 and 1.5130 level in extension. In long-term trends, we would be interested in selling this pair if we see decisive break below 1.50 handle since this would lead towards 1.48 handle. We have no interest in buying this pair at the moment.

More in this category: « AUD/USD Daily Forecast – 25 November EUR/USD Daily Forecast – 25 November »

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