GBP/USD Daily Forecast – 01 November

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Tuesday, Oct 31 2017

GBP/USD Daily Forecast – 01 November

Sterling formed support around 1.32 handle in the course of the yesterday's session and continued its uptrend going all the way to 1.3280 area around which pair finished the session. As for tomorrow, we would pay attention to UK Manufacturing PMI figures and Fed's interest rate decision. On a short-term basis, we believe that pair will find some amount of support around 1.3130 and 1.32 area initially, while area above 1.3350 handle should offer some amount of resistance.

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

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