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 – 03 January
Sterling broke higher in the course of the yesterday's session going all the way to 1.36 handle where pair found plenty of resistance, but did not pulled back significantly but finished the session near 1.36 area, which is of course a positive sign. As for tomorrow, we would pay some attention to UK Construction PMI figures. On a short-term basis, we believe that pair will find some amount of support around 1.3550 and 1.35 area initially, while area above 1.3650 handle should offer some amount of resistance.
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