GBP/USD Daily Forecast – 21 December
Sterling went back and forth in the course of Friday's session finding area around 1.4880 level to be supportive and 1.4950 handle to offer plenty of resistance at the moment. However, we believe that there is more bearish pressure in this pair at the moment, so we would avoid any buying positions.
As for Monday, we believe that pair will find some amount of support around 1.4860 level so this is where we would place our short-term buying bids and resistance above 1.4950 handle, which was previously supportive, so this would be our short-term selling point. On a long-term basis, we are more willing to sell this pair so we would use any rallies as short-term selling opportunities, especially those which show signs of resistance near 1.50 handle. We would also sell pair on break below recent lows. Buying is not an option at the moment.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419