GBP/USD Daily Forecast – 26 January

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Thursday, Jan 25 2018

GBP/USD Daily Forecast – 26 January

Sterling was pushed higher in the course of the yesterday's session going all the way to 1.4350 area, where it found some amount of resistance and pulled back to 1.4130 level by the end of the session mostly being affected by Trump's comments on stronger dollar. Focus of tomorrow's session will be on UK GDP figures. On a short-term basis, we believe that pair will find some amount of support around 1.41 and 1.4050 area initially, while area above 1.4250 handle should offer some amount of resistance.

On a long-term basis we would be on buyers for this pair, despite this decline. Selling is not an option as long as we are above 1.38 handle. We expect next major resistance above 1.45 handle.

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