GBP/USD Daily Forecast – 03 November

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Thursday, Nov 02 2017

GBP/USD Daily Forecast – 03 November

Sterling found some amount of resistance above 1.3280 area in the course of the yesterday's session, and then pulled back going all the way to 1.3050 area, after dovish BoE stanzas despite rate hike. Tomorrow, we would pay attention to UK Construction PMI and US NFP 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 1.3150 handle should offer some amount of resistance.

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

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