GBP/USD Weekly Forecast – 20 June – 24 June

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Friday, Jun 17 2016

Sterling was pushed lower initially in the week going all the way to 1.40 handle, but then managed to rebound by the end of the week coming near 1.44 handle. However, the only certain thing at the moment is that we can expect a lot of volatility, with focus on EU referendum. 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 1.45 level so this is where we would consider selling the pair.

In long-term trends, if we see decisive break above 1.40 handle, we believe that pair could go much lower, with initial target set at 1.37 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.

More in this category: « AUD/USD Weekly Forecast – 20 June – 24 June EUR/USD Weekly Forecast – 20 June – 24 June »

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