GBP/USD Daily Forecast – 29 December

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Monday, Dec 28 2015

Sterling was pushed slightly lower in the course of the yesterday's session, but found support around 1.49 handle. However, there was lack of volatility, with UK banks being closed due to Boxing Day.

Also, we can expect steadier session tomorrow as well as there will be no major data release. Any type of supportive candles around 1.4850 level would offer short-term buying opportunity, while resistive candles around 1.4930 handle would be short-term selling signal. Long-term looking, we believe that pair is limited with 1.50 handle, and until we see break below it we cannot consider buying this pair, while we would first need to see break below 1.48 handle to continue selling the pair. Until then, we remain on the sidelines, but recognize that pair is likely to head in one direction or other after the holiday season.

More in this category: « AUD/USD Daily Forecast – 29 December EUR/USD Daily Forecast – 29 December »

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