GBP/USD Weekly Forecast – 14 September – 18 September
Sterling broke higher in the course of the last week supported by more hawkish than expected BoE Meeting Minutes, but also pair found area around 1.52 handle to offer plenty of support at the moment and easily bounced out from it. However, 1.55 handle seems to be too resistive at the moment. We can expect quite volatile next week with UK CPI and job data, as well as Fed interest rate decision. Pair is likely to find some amount
of support around 1.53 handle initially and 1.52 handle in a case of a larger decline, while 1.55 handle should be resistive initially in the week, but if we break above it, next major resistance is at 1.57 handle. Long-term looking, if we see break above 1.55 handle and recent uptrend line we would be more than willing to start buying the pair once again. We have no interest in selling it at the moment, as 1.52 handle seems to be quite supportive, but if we see decisive break below it we believe that pair could go as low as 1.50 area.
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