GBP/USD Daily Forecast – 02 March

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Tuesday, Mar 01 2016

Sterling was pushed higher in the course of the yesterday's session, but found area around 1.40 handle to be too resistive at the moment, with pair pulling back by the end of the session, to 1.3950 level. Tomorrow, we would pay attention to ADP job figures. Any type of supportive candles around 1.39 level and 1.3850 area, would be short-term buying signal, while resistive candles above 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, so we would use these type of rallies as just another selling opportunity.

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