GBP/USD Daily Forecast – 08 January
Sterling continued its downtrend in the course of the yesterday's session, though there were no major data releases, going all the way to 1.4530 level, where it found some amount of support and managed to rebound by the end of the session touching 1.46 handle. As for tomorrow, we believe that supportive candles around 1.45 handle should offer significant amount of support, while, resistive candles above 1.4660 and 1.47 handle in extension is where we would consider short-term selling.
In long-term trends, we have no interest in buying this pair, as we are quite far from 1.50 handle break above which would indicate change of a trend. We are now quite near major support at 1.45 handle, where we were predicting pair will head, so we would first wait to see markets reaction on this area before we would resume with selling the pair.
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