GBP/USD Weekly Forecast – 24 April – 28 April

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Friday, Apr 21 2017

GBP/USD Weekly Forecast – 24 April – 28 April

Sterling broke higher in the course of the last week, going all the way above 1.29 handle in one moment, but by the end of the week pair pulled back finishing it around 1.28 area. Pair was mostly supported by Theresa May's announcement on snap elections in the UK. Next week we would be more focused on UK and US GDP figures. On a short-term basis, we believe that pair will find some amount of support around 1.2750 and 1.27 area initially next week, while area above 1.29 handle should offer some amount of resistance.

On a long-term basis we are more interested in buying the pair at the moment, especially after this rebound, though we would be quite careful with placing any larger bids.

More in this category: « EUR/USD Weekly Forecast – 17 April – 21 April EUR/USD Weekly Forecast – 24 April – 28 April »

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