On a long-term basis we would be buyers for this pair and would use any pullbacks as buying opportunities. Selling is not an option at the moment, especially after this uptrend.
GBP/USD Weekly Forecast – 18 September – 22 September
Sterling spent last week in an uptrend going all the way to 1.36 handle by the end of the week, where pair found some amount of resistance but pulled back only slightly. Uptrend was mostly supported by hawkish BoE's meeting minutes indicating rate hike as well as rather good UK job and inflation figures. Next week, we would pay attention to Fed interest rate decision and US figures. On a short-term basis, we believe that pair will find some amount of support around 1.34 and 1.3350 area initially next week, while area above 1.37 handle should offer some amount of resistance.
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