GBP/USD Daily Forecast – 10 November

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Thursday, Nov 09 2017

GBP/USD Daily Forecast – 10 November

Sterling was initially pushed lower in the course of the yesterday's session, but found area around 1.3080 handle to be supportive enough and managed to rebound going all the way to 1.3160 level where it found some amount of resistance and pulled back slightly in order to finish the session around 1.3140 level. As for tomorrow, focus will be on UK Industrial Production figures. On a short-term basis, we believe that pair will find some amount of support around 1.3020 and 1.3080 area initially, while area above 1.32 handle should offer some amount of resistance.

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

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