GBP/USD Daily Forecast - 27 January

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Monday, Jan 26 2015

Sterling spent most of the yesterday's session in an uptrend, rebounding after last week's sharp decline, in a session without major data releases. Focus of tomorrow's session will be on UK GDP data- Weaker than expected data could once again push Sterling below 1.50 handle

, but this is the area where we expect some short-term support, while better than forecasted figures would cause an uptrend all the way to 1.5180 level where we would consider selling the pair on a short-term basis. Long-term looking, we are not willing to place any larger bids at the moment. Buying is not an option until we see break above 1.53 handle, while on the other hand, pair has a plenty of support all the way to 1.48 handle so it will not be an easy way down.

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