GBP/USD Daily Forecast - 02 March

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Thursday, Mar 01 2018

GBP/USD Daily Forecast - 02 March

Sterling was pushed lower on the course of the yesterday's session, but found support around 1.37 handle and managed to rebound by the end of the day to a closing around 1.3770 level. Tomorrow, we woul pay attention to UK Construction PMI figures. On a short-term basis, we believe that pair will find some amount of support around 1.3750 and 1.37 area initially, while area above 1.3850 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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