Any type of resistive candles near 1.53 handle should offer nice short-term selling opportunity, while supportive candles near 1.51 handle would be short-term buying signal. On a long-term basis, 1.50 handle proved to be major support, so with that being the case we believe there is not much room for selling this pair, and therefore we have no interest in doing so. On the other hand, we would first like to see break above 1.53 handle in order to start buying the pair, with a target set at 1.55 handle, that should offer plenty of resistance.
Last modified on Friday, 16 January 2015GBP/USD Weekly Forecast - 19 January - 23 January
Sterling managed to rebound in the course of the last week but area above 1.5250 level is still offering plenty of resistance at the moment, with pair pulling back several times last week from area above it. This could be the case initially next week, though we can expect a lot of volatility with job figures and BoE Meeting Minutes.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419