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GBP/USD Weekly Forecast – 15 May – 19 May

Friday, May 12 2017
GBP/USD Weekly Forecast – 15 May – 19 May

Sterling went all the way to 1.30 handle in the course of the last week, but after BoE's interest rate decision and BoE's Inflation Report, pulled back all the way to 1.2840 level where it found some amount of support. Next week, focus will be on UK CPI and job 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 1.30 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 uptrend, though we would be quite careful with placing any larger bids.

Last modified on Friday, 12 May 2017
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