GBP/USD Daily Forecast – 27 October

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Thursday, Oct 26 2017

GBP/USD Daily Forecast – 27 October

Sterling pulled back in the course of the yesterday's session going all the way to 1.3160 level, where it found some amount of support. Though there were no major data releases from the UK, ECB influenced GBP as well. Tomorrow, we would pay attention to US GDP figures. On a short-term basis, we believe that pair will find some amount of support around 1.31 and 1.3080 area initially, while area above 1.3250 handle should offer some amount of resistance.

On a long-term basis we would be buyers for this pair, despite this decline. Selling is not an option as long as we area above 1.30 handle.

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