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GBP/USD Daily Forecast – 29 January

Thursday, Jan 28 2016

Sterling was supported by rather good UK GDP figures yesterday, an spent session in an incline testing 1.44 handle as a resistance. Just as we have suspected this area offered some amount of it, with pair pulling back slightly, but we can expect that it will try to test it again. As for tomorrow, we expect some amount of support around 1.43 handle, so this is where we would place short-term buying bids and resistance near 1.45 handle, as this is important resistive barrier and where we would sell the pair on a short-term basis.

Long-term looking, despite this rebound, we still have no interest in buying this pair as it has plenty of resistance around 1.45 handle, and with that in mind we would wait for a resistive candles around this area as a selling opportunity. 

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