GBP/USD Daily Forecast – 04 March

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Thursday, Mar 03 2016

Sterling spent most of the yesterday's session in an uptrend, thus continuing Wednesday's incline, going all the way to near 1.42 handle, which is of course bullish sign, but this area offered some amount of resistance at the moment. As for tomorrow, any type of supportive candles around 1.41 level and 1.4050 area, would be short-term buying signal, while resistive candles above 1.4250 area, would offer short-term buying opportunity.

In long-term trends, despite this uptrend we still have no interest in buying the pair at the moment, as we see 1.43 handle as a ceiling for the pair at the moment, and resistance near this area would be selling signal, as well as break below 1.40 handle.

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