GBP/USD Daily Forecast – 14 December

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Friday, Dec 11 2015

Despite rather good US data, Sterling was pushed higher in the course of the Friday's session, which could be explained by fall in oil prices which is adding some pressure on USD. Pair even broke above 1.52 handle, which was previously quite resistive, but faced with resistance around 1.5230 level. As for Monday, we expect a bit steadier session as there will be no major data releases both from UK and USA, and traders are going to be cautious initially in the week ahead of UK job and CPI data as well as Fed rate decision.

Pair is likely to find support around 1.5150 level and resistance above 1.5250 handle so these would be our short-term buying and selling points. On a long-term basis, we would remain on the sidelines for this pair as long as we are below 1.53 handle. However, selling is not an option at the moment.

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