GBP/USD Daily Forecast – 23 February

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Monday, Feb 22 2016

Sterling was pushed significantly lower in the course of the yesterday's session which is mostly result of Brexit concerns and decision between MP's as well as worries what Brexit could mean for UK economy. Pair went all the way to 1.4050 area, where it found some amount of support and managed to rebound by the end of the session. Tomorrow, we would pay attention to Inflation Report Hearings. Any type of supportive candles around 1.4050 level, would be short-term buying signal, while resistive candles above 1.4250 area, would offer short-term buying opportunity.

In long-term trends we have no interest in buying the pair at the moment and believe that it will test 1.40 handle as a major support at the moment, where we can expect some type of bounce.

More in this category: « AUD/USD Daily Forecast – 23 February EUR/USD Daily Forecast – 23 February »

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