GBP/USD Daily Forecast – 19 January

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Monday, Jan 18 2016

Sterling was initially pushed higher in the course of yesterday's session, but found are around 1.4330 level to be too resistive at the moment and by the end of the session, once again pulled back below 1.43 handle. As for tomorrow, focus will be on UK CPI figures. Pair is likely to find support around 1.42 handle and resistance above 1.4350 level so these would be our short-term buying and selling points.

In long-term trends, pair finished the 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. Also, recent UK data is quite week, which also adds additional pressure to the pair. We have no interest in buying this pair at the moment.

More in this category: « AUD/USD Daily Forecast – 19 January EUR/USD Daily Forecast – 19 January »

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