GBP/USD Daily Forecast – 28 December

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Friday, Dec 25 2015

Despite, expected lack of volatility due to Christmas Eve, Sterling was pushed much higher in the course of the Thursday's session, breaking once again above 1.49 handle, and testing 1.4950 handle as a resistance, where in fact it found it, and pulled back slightly by the end of the session.On Monday we cannot expect any larger movements as there is no data releases and it is likely that holiday's lack of liquidity will continue.

Any type of supportive candles around 1.49 handle would offer short-term buying opportunity, while resistive candles above 1.4950 level would be short-term. In long-term trends, despite this rebound we kind of see 1.50 handle as a ceiling for this pair, so until we see decisive break above it we would not even consider buying. If we see break below 1.48 handle we would feel more than comfortable with selling the pair.

More in this category: « AUD/USD Daily Forecast – 28 December EUR/USD Daily Forecast – 28 December »

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