GBP/USD Daily Forecast – 31 October

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Monday, Oct 30 2017

GBP/USD Daily Forecast – 31 October

Sterling rebounded in the course of the yesterday's session going all the way to 1.32 handle by the end of the day which is of course a positive sign, since there were no major data releases. Tomorrow, we can expect a similar session as there will be no major data releases from the UK. On a short-term basis, we believe that pair will find some amount of support around 1.3150 and 1.3130 area initially, while area above 1.3250 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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