GBP/USD Weekly Forecast – 03 July – 07 July

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Friday, Jun 30 2017

GBP/USD Weekly Forecast – 03 July – 07 July

Sterling broke higher in the course of the last week going all the way above 1.30 handle and finish the week above 1.30 area, which is of course a sign of a bullish momentum. Pair was mostly supported by good UK figures and hawkish statements coming from BoE. Next week, focus will be on UK PMI figures and US NFP report. On a short-term basis, we believe that pair will find some amount of support around 1.2930 and 1.2880 area initially next week, while area above 1.3150 handle should offer some amount of resistance.

On a long-term basis we would remain on the sidelines at the moment, until we see that pair is stable above 1.30 area. However, selling is not an option at the moment.

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