GBP/USD Daily Forecast - 09 February

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Friday, Feb 06 2015

Sterling tried to break decisively above 1.53 handle and continue its uptrend, but failed after NFP figures, pulling back to 1.52 area. As for Monday, we can expect less volatile session as there will be no major data releases both from UK and USA. With that being the case, we believe that we can expect some amount of support around 1.52 handle

, which was previously resistive, so this would be our short-term buying point, while area above 1.53 handle should still be quite resistive so this is where we would sell the pair on a sight of resistive candles. In long-term trends we believe that bias is more positive and that we could be heading towards 1.55 handle, but we would first like to see more decisive break above 1.53 handle before placing any larger bids.

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