GBP/USD Daily Forecast – 26 February

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Thursday, Feb 25 2016

Sterling stabilized a bit in the course of the yesterday's session and even managed to rebound and come to near 1.40 handle which offered significant amount of support and pair pulled back to 1.3950 area. Tomorrow, we would pay attention to US GDP figures. Any type of supportive candles around 1.3880 level and 1.3850 area, would be short-term buying signal, while resistive candles near 1.40 area, would offer short-term buying opportunity.

In long-term trends we have no interest in buying the pair at the moment, and we would be strong sellers now when we have seen break below 1.40 handle with initial target set at 1.37 handle.

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