GBP/USD Daily Forecast – 12 February

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Thursday, Feb 11 2016

Sterling was initially pushed higher in the course of the session on Thursday, but found area around 1.4570 level to be resistive enough in order to pullback in the US part of the session,all the way to below 1.44 handle, where pair managed to find support and rebound by the end of the day. Tomorrow, pair is likely to find support around 1.4350 handle, and 1.43 handle in extension, as this were major resistive points in the past and resistance above 1.4550 handle so this is where we would consider placing short-term selling bids.

Long-term looking, despite this decline, we would not sell pair at the moment, as it seems quite volatile and indecisive and we woul wait break below 1.43 handle before starting to sell the pair.

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