GBP/USD Weekly Forecast - 06 April - 10 April
Sterling tested 1.47 handle as a support last week and in fact it managed to hold pressure with pair climbing back to area around 1.49 handle. However, with parliamentary elections coming we can expect that pair will be under additional pressure despite quite good economic data. Any type of resistive candles near 1.50 handle, next week, should offer nice short-term selling opportunity,
while supportive candles around 1.48 handle and 1.4750 area would be short-term buying signal. In long-term trends, it seems best to leave this pair at the moment. It is been traded in a tight range recently and until we get more clear signal we would not place any larger bids. However, once we get this signal we believe it would be to the downside and that pair will go back to 1.45 handle.
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