On a long-term basis, we would be buyers for this pair and would use any pullbacks as buying opportunities despite some mixed momentum during the last month. Selling is not an option, as long as the pair is above 1.30 handle.
GBP/USD Weekly Forecast – 27 November – 01 December
Sterling spent last week ina n incline, going all the way to 1.3350 handle where it found some amount of resistance but managed to finish the week around 1.3330 level. The incline was mostly supported by Autumn Forecast Report on budget as well as US traders being rather quite due to Thanksgiving holidays. Next week we would be more focused on US figures. On a short-term basis, we believe that pair will find some amount of support around 1.3250 and 1.32 area initially next week, while area above 1.3450 handle should offer some amount of resistance.
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