GBP/USD Weekly Forecast – 15 August – 19 August

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Saturday, Aug 13 2016

Sterling spent last week in a decline, though there were no major data releases, and broke below major psychological support level at 1.30 handle, and went all the way to 1.29 handle, which could easily be broke in the course of the next week, when we would pay attention to UK CPI and Retail Sales figures. Pair is likely to find support around 1.28 and 1.2750 handle and resistance above 1.30 handle.

In long-term trends, we would be sellers for the pair, which seems to have a lot of bearish potential and could easily reach 1.27 handle in the near future. We have no interest in buying the pair at the moment.

More in this category: « AUD/USD Weekly Forecast – 15 August – 19 August EUR/USD Weekly Forecast – 15 August – 19 August »

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