GBP/USD Daily Forecast - 05 February

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Saturday, Feb 03 2018

GBP/USD Daily Forecast - 05 February

Sterling fell in the course of the Friday's session mostly due to better than forecasted NFP figures. Pair went all the way to 1.41 handle around which it finished the session. On Monday we would pay some attention to UK Services PMI figures. On a short-term basis, we believe that pair will find some amount of support around 1.4050 and 1.40 area initially, while area above 1.42 handle should offer some amount of resistance.

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

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