GBP/USD Daily Forecast – 17 November

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Thursday, Nov 16 2017

GBP/USD Daily Forecast – 17 November

Sterling was initially pushed lower in the course of the yesterday's session but pair found support around 1.3130 level and after rather good UK Industrial Production pair managed to rebound and finish the session near 1.32 handle. With no major data releases tomorrow we expect a bit steadier session. 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 1.3250 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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