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.
GBP/USD Daily Forecast – 13 December
Sterling was initially pushed higher in the course of the yesterday's session, but found resistance above 1.3370 level and then pulled back going all the way 1.33 handle where pair found some amount of support and rebounded slightly to a daily closing around 1.3320 area. As for tomorrow we would pay attention to UK job figures and Fed's interest rate decision. On a short-term basis, we believe that pair will find some amount of support around 1.3250 and 1.3230 area initially, while area above 1.34 handle should offer some amount of resistance.
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