GBP/USD Daily Forecast – 30 October

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Friday, Oct 27 2017

GBP/USD Daily Forecast – 30 October

Sterling was initially pushed lower in the course of the Friday's session, due to better than forecasted US GDP figures, however pair found some amount of support around 1.3070 area and rebound by the end of the session to a daily closing around 1.3130 level. As for Monday, we expect a bit steadier session as there will be no major data releases. On a short-term basis, we believe that pair will find some amount of support around 1.31 and 1.3070 area initially, while area above 1.32 handle should offer some amount of resistance.

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

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