GBP/USD Daily Forecast – 30 December
After it broke above 1.49 handle in an overnight part of the trade, Sterling spent rest of the session in a downtrend going even below 1.48 handle, though it found some amount of support around this area. This is a sign that pair is ready to go lower, especially when full liquidity returns back to the markets after holiday season.
Tomorrow, pair is likely to find some amount of support around 1.4750 area, and resistance above 1.4860 level, which was previously supportive, so these would be our short-term buying and selling points. In long-term trends, since we have now seen break below recent lows and important support at 1.48 handle, despite slight rebound by the end of the session, we believe that pair could go all the way to 1.45 handle given enough time, and thus, we would be strong sellers for this pair. Buying is not an option at the moment.
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