GBP/USD Daily Forecast – 31 December

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Wednesday, Dec 30 2015

Sterling managed to rebound slightly in the course of the session on Wednesday as area slightly below 1.48 handle offered plenty of support at the moment, since it is important area based on long-term charts. However, area that was previously supportive around 1.4860 level should offer plenty of resistance at the moment.

Tomorrow, pair should find some amount of support around 1.4780 level and resistance above 1.4860 area, so these would be our short-term buying and selling points. Long-term looking, we would be sellers for this pair, especially on break below Tuesday's low, as we believe that pair should then go as low as 1.45 handle given enough time. We have no interest in buying the pair at the moment.

More in this category: « AUD/USD Daily Forecast – 31 December EUR/USD Daily Forecast – 31 December »

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