On a long-term basis we are more interested in buying the pair at the moment, especially after this uptrend, though we would be quite careful with placing any larger bids.
GBP/USD Weekly Forecast – 01 May – 05 May
Sterling broke higher in the course of the last week, going all the way above 1.2950 handle which offered some amount of resistance but pair did not pullback significantly which is of course a positive sign. This is a continuation of uptrend from the week before and of course positive sign for Pound. As for next week we would be focused on FOMC and UK PMI figures. On a short-term basis, we believe that pair will find some amount of support around 1.2850 and 1.28 area initially next week, while area above 1.3050 handle should offer some amount of resistance.
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