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, as long as the pair is above 1.30 handle.
GBP/USD Weekly Forecast – 25 December – 29 December
Sterling was initially pushed higher in the course of the last week going all the way to 1.3420 level, but then found some amount of resistance and pulled back slightly in order to finish the session around 1.3360 area. Next week, we expect less volatility as there will be no data releases and it is a holiday season with bank holidays marking beginning of the week. On a short-term basis, we believe that pair will find some amount of support around 1.33 and 1.3250 area initially next week, while area above 1.3450 handle should offer some amount of resistance.
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