GBP/USD Weekly Forecast – 25 September – 29 September

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Friday, Sep 22 2017

GBP/USD Weekly Forecast – 25 September – 29 September

Sterling went back and forth last week, on one hand being supported by rather good UK Retail Sales figures and on the other hand offset by Fed's hawkish stanzas. Pair formed support around 1.3450 area and resistance above 1.3650 handle, in the end finishing the week above 1.35 handle. As for next week we would pay aattention to US figures and anything regarding Brexit. On a short-term basis, we believe that pair will find some amount of support around 1.3450 and 1.34 area initially next week, while area above 1.3650 handle should offer some amount of resistance.

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 recent uptrend.

More in this category: « AUD/USD Weekly Forecast – 25 September – 29 September EUR/USD Weekly Forecast – 25 September – 29 September »

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