GBP/USD Daily Forecast - 20 January

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Monday, Jan 19 2015

Sterling went back and forth during the yesterday's session, being traded in a tighter-range with no data releases both from UK and USA, with a daily closing around 1.5130 level. We can expect similar session tomorrow as there will be no major data releases. Pair is likely to find support around 1.5080 level, so this is where we would consider buying the pair

, on a short-term basis, and resistance near 1.52 handle where we would sell the pair at the sight of resistive candles. Long-term looking, pair could go through rebound, but until we break above 1.53 handle it is hard to place any larger buying bids. If we break above this area pair could go all the way to 1.55 handle where we expect first major resistance. On the other hand 1.50 handle offer plenty of support at the moment that goes all the way to 1.48 level, so we have no interest in selling this pair at the moment.

More in this category: « AUD/USD Daily Forecast - 20 January EUR/USD Daily Forecast - 20 January »

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