GBP/USD Daily Forecast – 18 December

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Thursday, Dec 17 2015

Sterling tested 1.4860 area in the course of the yesterday's session, breaking below significant support at 1.49 handle which is of course quite bearish sign. It seems that pair is now quite likely to test 1.48 handle given enough time.

As for tomorrow, any type of supportive candles around 1.4850 and 1.48 handle in extension would offer short-term buying opportunity, while resistive candles near recent support at 1.4950 area would be short-term selling signal. In long-term trends, if we see break below 1.48 handle we believe that pair could go much lower and even go as low as 1.45 handle eventually. We have no interest in buying this pair at the moment, as we are quite far from levels that would indicate uptrend.

More in this category: « AUD/USD Daily Forecast – 18 December EUR/USD Daily Forecast – 18 December »

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