GBP/USD Daily Forecast – 05 December

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Monday, Dec 04 2017

GBP/USD Daily Forecast – 05 December

Sterling went back and forth in the course of the yesterday's session with volatility coming on any news regarding deal between UK and EU on Norther Ireland boarder issue, with pair finding resistance above 1.3540 area and support on 1.34 handle, in the end finishing session slightly above 1.3460 level, in a neutral tone. We can expect that Brexit talks will have impact on the markets tomorrow as well. On a short-term basis, we believe that pair will find some amount of support around 1.34 and 1.3370 area initially, while area above 1.3550 handle should offer some amount of resistance.

On a long-term basis we would be on buyers for this pair, though there is currently a lot of volatility. Selling is not an option as long as we are above 1.30 handle.

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