GBP/USD Weekly Forecast – 26 June – 30 June

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Saturday, Jun 24 2017

GBP/USD Weekly Forecast – 26 June – 30 June

Sterling pulled back in the course of the last week, going even below 1.26 handle at one moment. Decline was mostly caused by concerns in Brexit negotiations and overall instability of UK government. However, pair found some amount of support around 1.26 area and managed to rebound by the end of the week finishing it slightly above 1.27 area. Focus of the enxt week will remain on Brexit negotiations. On a short-term basis, we believe that pair will find some amount of support around 1.2630 and 1.2580 area initially next week, while area above 1.28 handle should offer some amount of resistance.

On a long-term basis we would remain on the sidelines at the moment. However, buying is not an option at the moment.

More in this category: « AUD/USD Weekly Forecast – 26 June – 30 June EUR/USD Weekly Forecast – 26 June – 30 June »

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