On a long-term basis we would be on the sidelines for this pair, however, selling is not an option, after this rebound. We expect next major support around 1.35 handle and resistance above 1.40 area.
GBP/USD Daily Forecast - 09 March
Sterling spent yesterday's session in a decline going all the way to 1.38 handle by the end of the session, where pair found some amount of support. With no major data releases, decline was mostly due to overall strengthening of US dollar. Focus of tomorrow's session will be on UK Industrial Production 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 1.39 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