GBP/USD Daily Forecast - 14 March

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Tuesday, Mar 13 2018

GBP/USD Daily Forecast - 14 March

Sterling broke higher in the course of the yesterday's session after UK Budget releases going all the way to near 1.40 handle where it found some amount of resistance and pulled back slightly by the end of the session to a daily closing around 1.3960 handle. Tomorrow, focus will be on US PPI and Retail Sales 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.

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.

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