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GBP/USD Weekly Forecast – 03 April – 07 April

Saturday, Apr 01 2017
GBP/USD Weekly Forecast – 03 April – 07 April

Sterling was initially pushed higher in the course of the last week, but pulled back on Wednesday with Theresa May's triggering of Article 50, with pair founding some amount of support around 1.2380 area and rebounding by the weekly closing all the way to 1.2550 area, which is at the moment positive sign, give the political unstability in the UK. Next week, we would be focused on UK PMI and Industrial Production figures. 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 1.2650 handle should offer some amount of resistance

. 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.

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