In long-term trends, if we see decisive break above 1.4w handle, we believe that pair could go much lower, with initial target set at 1.40 handle. Buying is not an option at the moment. We expect plenty of volatility so it is a hard market to trade with at the moment.
GBP/USD Weekly Forecast – 13 June – 17 June
Sterling was initially pushed higher in the course of the last week, going all the way 1.4640 handle, however, this area proved to be too resistive at the moment, with pair pulling back to 1.4260 handle, being offset by Brexit polls. Next week, we can expect plenty of volatility with BoE's and FED's interest rate decision, but with focus on any news regarding the Brexit. We believe that pair will find some amount of support around 1.42 handle, so this would be our short-term buying point and resistance above 1.4350 level so this is where we would consider selling the pair.
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