GBP/USD Daily Forecast – 09 December

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Tuesday, Dec 08 2015

Sterling broke lower in the course of the session on Tuesday, testing 1.4950 level as a support, but managed to rebound by the end of the session testing 1.50 handle by the end of the session.

As for tomorrow, with no major data releases we expect a bit steadier session in which pair is likely to find support around 1.4950 area, yesterday's low, and resistance above 1.5050 handle, which has acted as both support and resistance in the past. Long-term looking, we have no interest in buying this pair. With this decline we believe that pair will test 1.48 handle given enough time, but we would not place any larger bids ahead of BoE Meeting Minutes.

More in this category: « AUD/USD Daily Forecast – 09 December EUR/USD Daily Forecast – 09 December »

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