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.
GBP/USD Daily Forecast - 20 February
Sterling fell initially in the course of the yesterday's session, but found some amount of support around 1.3960 area and was then pushed higher all the way to 1.40 handle around which pair finished the session, thus in a neutral tone. As for tomorrow, we can expect similar session as there will be no major data releases. On a short-term basis, we believe that pair will find some amount of support around 1.3950 and 1.39 area initially, while area above 1.4080 handle should offer some amount of resistance.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419