GBP/USD Daily Forecast – 09 January

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Monday, Jan 08 2018

GBP/USD Daily Forecast – 09 January

Sterling found plenty of resistance above 1.3580 area in the course of the yesterday's session and was pushed lower going all the way to 1.3520 level where it found some amount of support and managed to rebound and finished the session around 1.3570 area. As for tomorrow, we expect a less volatile 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 1.3520 and 1.35 area initially, while area above 1.3630 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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