On a long-term basis, despite this pullback, we would be buyers for this pair and would use any pullbacks as buying opportunities. Selling is not an option, as long as the pair is above 1.30 handle.
GBP/USD Weekly Forecast – 18 December – 22 December
Sterling formed support around 1.33 handle in the course of the last week and was then pushed higher going all the way to 1.3460 level mostly being supported by dovish Fed comments, however, pair pulled back on Friday due to Brexit talks showing that there is still a lot of working ahead with pair finishing the session around 1.3320 area. As for next week, we expect less volatility due to holiday season arriving. 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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