GBP/USD Daily Forecast – 09 March

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Tuesday, Mar 08 2016

Sterling spent most of the Tuesday's session in a decline after dovish comments from BoE regarding stanzas on Brexit referendum. However, pair managed to stay above 1.42 handle. Tomorrow, we would pay attention to UK Industrial Production figures. Any type of supportive candles around 1.4150 level and 1.41 area, would be short-term buying signal, while resistive candles above 1.43250 and 1.43 area in extension, would offer short-term buying opportunity.

In long-term trends, 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. However, if we see break above 1.43 handle we believe that pair will go as high as 1.45 handle. So, we would remain on the sidelines at the moment.

More in this category: « AUD/USD Daily Forecast – 09 March EUR/USD Daily Forecast – 09 March »

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