GBP/USD Daily Forecast – 17 January

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Tuesday, Jan 16 2018

GBP/USD Daily Forecast – 17 January

Sterling struggled with 1.38 handle in the course of the yesterday's session and was initially pushed lower, but found support around 1.3740 level and managed to rebound in order to finish the session around 1.38 area. As for tomorrow, we can expect that Sterling will continue to test 1.38 area. On a short-term basis, we believe that pair will find some amount of support around 1.3750 and 1.37 area initially, while area above 1.3850 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. We expect next major resistance above 1.40 handle.

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