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.
GBP/USD Daily Forecast – 15 December
Sterling broke higher initially in the course of the yesterday's session but found resistance above 1.3460 area and pulled back after BoE's interest rate decision, however pair found plenty of support around 1.34 handle and slightly rebounded to a daily closing around 1.3430 level. As for tomorrow, we expect a bit less volatile session. 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 1.3480 handle should offer some amount of resistance.
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