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GBP/USD Daily Forecast – 29 January

Saturday, Jan 27 2018
GBP/USD Daily Forecast – 29 January

Sterling was initially pushed higher in the course of the Friday's session going all the way to 1.4280 area, where it found some amount of resistance and pulled back to 1.4160 level by the end of the session. As for Monday we expect a less volatile session ahead of very volatile week. 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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