GBP/USD Daily Forecast - 14 February

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Tuesday, Feb 13 2018

GBP/USD Daily Forecast - 14 February

Sterling was pushed higher in the course of the yesterday's session going all the way to 1.3920 level, where it found some amount of resistance and was pushed slightly lower by the end of the session to a daily closing around 1.3880 level. Incline was mostly supported by rather good UK CPI and PPI figures. Tomorrow, we would be more focused on US reports. On a short-term basis, we believe that pair will find some amount of support around 1.3850 and 1.38 area initially, while area above 1.3950 handle should offer some amount of resistance.

On a long-term basis we would be on the sidelines for this pair, however, selling is not an option. We expect next major support around 1.35 handle and resistance above 1.40 area.

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