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.
GBP/USD Daily Forecast - 30 January
Sterling fell in the course of the yesterday's session going all the way to 1.4020 area, despite no data releases. Pair found some amount of support there and managed to rebound by the end of the session to a daily closing around 1.4070 level. We expect another steadier session tomorrow, as there will be no major data releases. On a short-term basis, we believe that pair will find some amount of support around 1.4020 and 1.40 area initially, while area above 1.4150 handle should offer some amount of resistance.
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