Long-term looking, we would at the moment stay on the sidelines for this pair as there is no any clear trend at the moment, and we would either wait for break below 1.40 handle or above 1.45 area, to place any larger bids.
GBP/USD Weekly Forecast - 18 April – 22 April
Sterling was initially pushed lower in the course of the last week, but then managed to rebound all the way to 1.43 handle, where pair found significant amount resistance and pulled back to 1.42 handle by the end of the week. As for next week, we can expect that Sterling is continue to bounce in this general area, with focus of UK job figures. Pair is likely to find support around 1.41 handle, at least initially, and resistance above 1.4280 and 1.4330 level in extension, so these would be our short-term buying and selling points.
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