GBP/USD Daily Forecast – 18 January

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Friday, Jan 15 2016

Sterling was pushed significantly lower in the course of the Friday's session, going even below 1.43 handle, though there were no major data releases from the UK and despite weaker than expected US figures. Pair also finished the session and closed the week near new lowest levels which is of course quite negative sign and with that being the case we believe that pair is now heading towards 1.40 handle, on a long-term basis. We have no interest in buying this pair at the moment.

As for Monday, any type of supportive candles around 1.42 handle would offer short-term buying opportunity, while resistive candles above 1.4350 level would be short-term selling signal, as this area previously offered some amount of support.

More in this category: « AUD/USD Daily Forecast – 18 January EUR/USD Daily Forecast – 18 January »

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