GBP/USD Daily Forecast - 10 February

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Monday, Feb 09 2015

It was a steadier yesterday's session for Sterling, which was traded within 60 points as there were no major data releases both from UK and USA. Focus of tomorrow's session will be on Industrial Production figures. Any type of resistive candles above 1.5280 level would be short-term selling opportunity

, while supportive candles around 1.52 handle and 1.5150 level would be short-term buying signal. As long as 1.52 handle holds we are optimistic for this pair and believe it could go higher. However, we would not place any larger buying bids until we see break below 1.53 handle which would lead to a further uptrend to 1.55 handle. On the other hand, we have no interest in selling this pair at the moment since 1.50 and area below it offers significant amount of support.

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