GBP/USD Daily Forecast – 24 December

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Wednesday, Dec 23 2015

Sterling managed to rebound in the course of the yesterday's session going all the way to 1.49 handle. This area offered some amount of resistance, so pair pulled back slightly, but with no major data releases tomorrow, we cannot expect any larger movements.

Pair is likely to find support around 1.4820 level and resistance above 1.4920 and 1.4950 area in extension so these would be our short-term buying and selling points. Long-term looking, despite this rebound we have no interest in buying this pair, as we believe it is only matter of time before pair breaks lower. If we see break below 1.48 handle we would be more than willing to continue selling the pair with next target set 1.45 handle.

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