On a long-term basis we would be on buyers for this pair, especially after this rebound, despite mixed momentum at the moment. Selling is not an option as long as we area above 1.30 handle.
GBP/USD Daily Forecast – 13 November
Sterling formed support around 1.31 handle in the course of the Friday's session and was then pushed higher supported by good Industrial Production figures going all the way to 1.3230 area which offered some amount of resistance at the moment with pair pulling back and finishing the session around 1.32 handle. As for Monday, we can expect a bit of consolidation ahead of big data later in the week. On a short-term basis, we believe that pair will find some amount of support around 1.3150 and 1.3120 area initially, while area above 1.3250 handle should offer some amount of resistance.
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