GBP/USD Daily Forecast – 23 December

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Tuesday, Dec 22 2015

Sterling was pushed lower in the course of the session on Tuesday, all the way to 1.48 handle. This is of course very bearish sign, and if we see break below 1.48 handle we believe that pair could go much lower, perhaps even to 1.45 handle given enough time. With that being the case, we have no interest in buying this pair at the moment.

We can expect some volatility tomorrow with UK Current Account figures but also with focus on US Durable Goods Orders data. Any type of resistive candles above 1.4860 level would be short-term selling signal, while supportive candles around 1.4750 handle would offer short-term buying opportunity. On a long-term basis, we would be strong sellers for this market.

More in this category: « AUD/USD Daily Forecast – 23 December EUR/USD Daily Forecast – 23 December »

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