GBP/USD Daily Forecast – 10 January

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Tuesday, Jan 09 2018

GBP/USD Daily Forecast – 10 January

Sterling was initially pushed higher in the course of the yesterday's session going all the way 1.3580 area where it found some amount of resistance and then pulled back going to 1.35 handle, which once again proved to be supportive enough with pair rebounding and finishing the session 1.3540 area. Tomorrow, we would pay attention to UK Industrial Production figures. On a short-term basis, we believe that pair will find some amount of support around 1.35 and 1.3450 area initially, while area above 1.36 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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