1.55 handle is a major support for this pair, as it is round and psychologically important figures so regardless of figures we believe it should significant amount of support and short-term buying opportunities. On the other side any type of resistive candles above 1.57 handle should be short-term selling signal. Long-term looking we are still not willing to place any larger bids. Break below 1.55 handle would definitely indicate that it is time to start selling the market, however, there is no clear sign at the moment.
GBP/USD Weekly Forecast - 08 December - 12 December
Sterling finished last week few points below 1.56 handle. It was pushed higher initially in the week supported by good PMI readings, however, by the end of the week it declined, unable to break above 1.5750 area decisively and coming under pressure after NFP report. Main market mover next week will be Industrial production figures.
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