On a long-term basis we would be on buyers for this pair. Selling is not an option as long as we are above 1.30 handle. We expect next major resistance above 1.40 handle.
GBP/USD Daily Forecast – 23 January
Sterling continued its uptrend in the course of the yesterday's sesion going all the way to near 1.40 handle, where it finished the session, after it initially formed support around 1.3850 area. Tomorrow, we can expect similar 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 1.3950 and 1.39 area initially, while area above 1.4050 handle should offer some amount of resistance.
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