GBP/USD Daily Forecast – 17 December

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Wednesday, Dec 16 2015

Sterling was initially pushed lower in the course of the yesterday's session, but found area near 1.4950 level to be supportive enough in order to rebound and despite Fed's rate hike was pushed lower, mostly due to dovish Fed's statement. Tomorrow's session will bring UK Retail Sales figures.

Pair is likely to find support around 1.49 handle and resistance near 1.51 area, so these would be our short-term buying and selling points. Long-term looking, we have no interest in buying this pair. Analysts predict that this pair will fell given enough time, but we would like to see 1.49 handle cleared before placing any larger selling bids. Buying is not an option until we see break above 1.53 handle.

More in this category: « AUD/USD Daily Forecast – 17 December EUR/USD Daily Forecast – 17 December »

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