On a long-term basis, we would still be buyers for this pair and would use any pullbacks as buying opportunities despite some mixed momentum. Selling is not an option, as long as the pair is above 1.30 handle.
GBP/USD Weekly Forecast – 13 November – 17 November
It was quite volatile week for Sterling despite no major data releases. Pair found some amount of support around 1.3080 area in the course of the week and was then pushed higher all the way to 1.3230 level in the course of the Friday's session but found plenty of resistance there and pulled back slightly in order to finish the week around 1.32 handle. Focus of the next week will be on UK CPI and job figures. On a short-term basis, we believe that pair will find some amount of support around 1.3130 and 1.3080 area initially next week, while area above 1.33 handle should offer some amount of resistance.
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