In long-term term trends, if we see more decisive break above 1.28 handle we would even consider buying British pound as it could then reach 1.30 handle. We have no interest in selling the pair at the moment.
GBP/USD Weekly Forecast – 05 December – 09 December
Sterling formed support around 1.54 area in the course of the last week and was then pushed higher all the way to 1.27, with a weekly closing near weekly highs which is of course positive sign. Pair was pushed higher supported by rather good UK data and after comments from Eurogroup head Dijsselbloem that the EU might be able to find a way for the UK to maintain single-market access following an EU exit. Next week we would pay attention to UK Industrial Production figures. Any type of supportive candles around 1.26 and 1.2550 handle would be short-term buying signals, while resistive candles above 1.2780 and 1.28 area would be selling signals.
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