GBP/USD Daily Forecast – 14 March

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Friday, Mar 11 2016

Sterling continued its uptrend in the course of the session on Friday, even breaking above 1.44 handle, which is of course quite bullish sign, especially since there were no major data release. After this huge move we can expect a bit of consolidation on Monday. Any type of supportive candles around 1.4350 level and 1.43 area, would be short-term buying signal, while resistive candles above 1.4450 and 1.4480 area in extension, would offer short-term buying opportunity.

In long-term trends, we would be buyers for this pair as we believe it is now heading towards 1.45 area, where we can expect significant amount of resistance. We have no interest in selling the pair at the moment, but do not expect an easy way up.

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