On a long-term basis, we would be buyers for this pair and would use any pullbacks as buying opportunities, after this recent rebound. Selling is not an option, as long as the pair is above 1.30 handle.
GBP/USD Weekly Forecast – 04 December – 08 December
Sterling formed support around 1.32 handle in the course of the last week, and was then pushed higher, going all the way to 1.3550 area, supported by news on Brexit bill deal. However, this level proved to be to resistive at the moment and pair pulled back in order to finish the week around 1.3470 area. As for next week, we would pay attention to UK Industrial Production figures as well as US NFP report. 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 1.3550 handle should offer some amount of resistance.
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