GBP/USD Daily Forecast – 07 November

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Monday, Nov 06 2017

GBP/USD Daily Forecast – 07 November

Sterling formed support around 1.3050 area in the course of the yesterday's session and was then pushed higher going all the way to 1.3170 level by the end of the session which is a sign that Sterling has strong support at 1.30 handle. Tomorrow, we expect similar 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 1.3060 area initially, while area above 1.3250 handle should offer some amount of resistance.

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

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