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, but it seems that pair has plenty of resistance above 1.27 area. We have no interest in selling the pair at the moment, despite this pullback.
GBP/USD Weekly Forecast – 12 December – 16 December
Sterling tried to break more decisively above 1.27 handle in the course of the last week, but in the end found this area to be too resistive at the moment with pair pulling back all the way to 1.2550 handle by the end of the week, where pair found some amount of support and managed to rebound slightly by the weekly closing. As for next week focus will be on UK CPI and job figures as well as Fed interest rate decision. Any type of supportive candles around 1.25 and 1.2450 handle would be short-term buying signals, while resistive candles above 1.27 and 1.2750 area would be selling signals.
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