GBP/USD Daily Forecast – 02 January

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Friday, Dec 29 2017

GBP/USD Daily Forecast – 02 January

Sterling formed support around 1.3420 handle in the course of the Friday's session and was pushed higher then going all the way to 1.3540 area, which proved to be too resistive at the moment, with pair pulling back and finishing the session around 1.35 level. With bank holiday on Monday we would be more focused on Tuesday's UK Manufacturing PMI figures. On a short-term basis, we believe that pair will find some amount of support around 1.3470 and 1.3430 area initially, while area above 1.3550 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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