wrapper

GBP/USD Weekly Forecast – 08 February – 12 February

Friday, Feb 05 2016

Sterling was pushed higher in the course of the last week, breaking even above 1.4650 handle, but around this area pair found some amount of resistance in order to pullback, especially after dovish BoE Meeting Minutes and finish the week slightly below major both supportive and resistive point at 1.46 handle. As for next week, we would pay attenion to UK Industrial Production figures. We can expect some amount of support around 1.4350 area, which was previously resistive and resistance above 1.46 handle as this was the case last week. We do expect a bit steadier initial part of the week.

Long-term looking, if we see break above recent highs we believe that pair could reach 1.48 handle. This would be quite bullish sign, but we do see 1.50 handle as a major resistance at the moment. With that being the case we have no interest in selling this pair, at least not until wee see break below 1.42 handle, which would lead towards 1.40 handle.

More in this category: « AUD/USD Weekly Forecast – 08 February – 12 February EUR/USD Weekly Forecast – 08 February – 12 February »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.