GBP/USD Weekly Forecast – 14 November – 18 November

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Saturday, Nov 12 2016

GBP/USD Weekly Forecast – 14 November – 18 November

Sterling formed support around 1.24 area in the course of the last week and was then pushed higher all the way to 1.2680 area where pair found some amount of resistance and pulled back by the end of the Friday's session with a closing slightly below 1.26 handle. Next week we would pay attention to UK CPI and job figures. Any type of supportive candles around 1.25 and 1.2450 handle would be short-term buying signals, while resistive candles above 1.2680 and 1.27 area would be selling signals.

In long-term term trends, if we see more decisive break above 1.26 handle we would even consider buying British pound as it could then reach 1.28 handle. We have no interest in selling the pair at the moment.

More in this category: « EUR/USD Weekly Forecast – 07 November – 11 November AUD/USD Weekly Forecast – 14 November – 18 November »

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