GBP/USD Daily Forecast - 21 January
After it initially fell all the way to 1.5050 level, Sterling managed to rebound in the course of the yesterday's session forming a little bit of hammer, what indicates that pair could go higher. Main market mover tomorrow will be UK job figures and BoE Meeting Minutes.
In a case of a weaker than expected figures pair is likely to find support around 1.5050 area, while better than forecasted figures would push pair all the way to above 1.5250 level where we can expect some amount of resistance. Though, this pair is likely to head either way in the near future, at the moment we do not have any clear long-term trend signal, so we would remain at the sideways. Support from 1.50 handle goes all the way to 1.48 area so we are not interested in selling this market, but buying is not an option as well, at least not until we see decisive break above 1.53 handle.
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