GBP/USD Daily Forecast – 14 December

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Thursday, Dec 14 2017

GBP/USD Daily Forecast – 14 December

Sterling broke above 1.34 handle in the course of the yesterday's session being supported by FOMC Press Conference after interest rate decision which was already much priced. Pair found some amount of resistance above 1.3420 level but managed to finish the session around this area. Focus of tomorrow's session will be on BoE's interest rate decision. On a short-term basis, we believe that pair will find some amount of support around 1.3350 and 1.3330 area initially, while area above 1.3480 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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