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 – 18 December
Sterling pulled back in the course of the Friday's session going all the way to 1.33 handle, where it found some amount of support but only slightly rebounded in order to finish the session around 1.3320 level. Pullback was mostly caused by less optimistic Brexit comments. As for Monday we expect steadier session as there will be no major data releases. On a short-term basis, we believe that pair will find some amount of support around 1.3280 and 1.3250 area initially, while area above 1.34 handle should offer some amount of resistance.
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