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 - 27 February
Sterling went all the way to 1.4070 area in the course of the yesterday's session where it found plenty of resistance and sharply pulled back in order to finish the session around 1.3970 level. As for tomorrow, we would be focused on US figures. On a short-term basis, we believe that pair will find some amount of support around 1.39 and 1.3880 area initially, while area above 1.4050 handle should offer some amount of resistance.
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