GBP/USD Daily Forecast – 12 December

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Monday, Dec 11 2017

GBP/USD Daily Forecast – 12 December

Sterling pulled back in the course of the yesterday's session going all the way to 1.3340 area, around which it found some amount of support and there finished the session. Tomorrow, we would pay attention to UK CPI and PPI figures. On a short-term basis, we believe that pair will find some amount of support around 1.33 and 1.3250 area initially, while area above 1.3450 handle should offer some amount of resistance.

On a long-term basis we would be on buyers for this pair, despite this pullback and 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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