GBP/USD Daily Forecast – 19 January

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Thursday, Jan 18 2018

GBP/USD Daily Forecast – 19 January

Sterling was pushed higher in the course of the yesterday's session going all the way above 1.39 handle, where it found some amount of resistance and pulled back but managed to find some amount of support in order to finish the session near 1.39 area. Focus of tomorrow's session will be on UK Retail Sales figures. On a short-term basis, we believe that pair will find some amount of support around 1.3850 and 1.38 area initially, while area above 1.3950 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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