GBP/USD Weekly Forecast – 22 May – 26 May

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Sunday, May 21 2017

GBP/USD Weekly Forecast – 22 May – 26 May

Sterling was supported by rather good UK figures in the course of the last week and was pushed higher, breaking above 1.30 handle by the end of the week, though this area is still quite resistive. Next week we would pay attention to BoE's Inflation Report and US figures. However, if Sterling remains above 1.30 handle this would definitely be a good sign. On a short-term basis, we believe that pair will find some amount of support around 1.2950 and 1.29 area initially next week, while area above 1.31 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. Selling is not an option at the moment.

More in this category: « AUD/USD Weekly Forecast – 22 May – 26 May EUR/USD Weekly Forecast – 22 May – 26 May »

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