GBP/USD Daily Forecast - 12 February

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Saturday, Feb 10 2018

GBP/USD Daily Forecast - 12 February

Sterling fell in the course of the Friday's session, being offset by weaker than expected UK Industrial Production figures, with pair going all the way to 1.3780 level, where it found some amount of support and managed to rebound slightly in order to finish the session around 1.3820. On Monday, we expect a bit of consolidation as there will be no major data releases. On a short-term basis, we believe that pair will find some amount of support around 1.3750 and 1.3730 area initially, while area above 1.39 handle should offer some amount of resistance.

On a long-term basis we would be on the sidelines for this pair, however, delling is not an option. We expect next major support around 1.35 handle.

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