On a long-term basis we are more interested in buying the pair at the moment especially on pullback, though we would be quite careful with placing any larger bids.
GBP/USD Weekly Forecast – 27 March – 31 March
Sterling formed support around 1.2330 level in the course of the last week, and was then pushed decisively up going all the way to above 1.25 handle, where it found some amount of resistance and then pulled back slightly by the weekly closing which was around 1.2470 level. Next week, we expect overall steadier session, with focus on triggering of Article 50 which has been announced. On a short-term basis, we believe that pair will find some amount of support around 1.24 and 1.2350 area initially next week, while area above 1.26 handle should offer some amount of resistance.
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