GBP/USD Daily Forecast – 29 December

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Thursday, Dec 28 2017

GBP/USD Daily Forecast – 29 December

Sterling formed support around 1.34 handle in the course of the yesterday's session and was pushed higher then going all the way to 1.3450 area, which proved to be too resistive at the moment, with pair pulling back and finishing the session around 1.3440 level. As for tomorrow, we expect similar 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 1.34 and 1.3380 area initially, while area above 1.35 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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