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GBP/USD Weekly Forecast - 16 May – 20 May

Friday, May 13 2016

Sterling was initially pushed higher in the course of the last week, however, pair pulled back by the end of the week, going even below 1.44 handle, which was quite supportive during the week. Next week focus will be on UK CPI and job figures. Weaker than expected figures would push pair all the way to to 1.4250 handle, while better than forecasted data could cause a rebound back to 1.4450 handle as first major resistance.

Long-term looking, as we have seen break below 1.44 handle we would sustain from buying, but we would first need to see decisive break below 1.43 handle before placing any larger selling bids.

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