GBP/USD Daily Forecast – 16 November

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Wednesday, Nov 15 2017

GBP/USD Daily Forecast – 16 November

Sterling went back and forth in the course of the yesterday's session with a support around 1.3130 area and resistance above 1.32 handle, in the end finishing the session around 1.3170 level in a neutral tone. Tomorrow, we would be focused on UK Retail Sales figures. On a short-term basis, we believe that pair will find some amount of support around 1.3130 and 1.3080 area initially, while area above 1.3230 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 are above 1.30 handle.

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