GBP/USD Daily Forecast – 11 January

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Thursday, Jan 11 2018

GBP/USD Daily Forecast – 11 January

Sterling broke higher initially in the course of the yesterday's session going all the way to 1.3560 level, where it found significant amount of resistance and completely pulled back by the end of the session to a daily closing around 1.35 handle. Tomorrow, focus will be more on US figures. On a short-term basis, we believe that pair will find some amount of support around 1.3480 and 1.3450 area initially, while area above 1.3560 handle should offer some amount of resistance.

On a long-term basis we would be on buyers for this pair, despite this pullback and though there is currently a lot of volatility. Selling is not an option as long as we are above 1.30 handle.

More in this category: « AUD/USD Daily Forecast – 11 January EUR/USD Daily Forecast – 11 January »

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