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 – 24 January
Sterling formed support around 1.3910 level in the course of the yesterday's session and was then pushed higher going all the way to 1.40 handle, where it finished the session, but this is strongly resistive area so we can expect some struggle here. Tomorrow, we would pay attention to UK job figures. 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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