GBP/USD Weekly Forecast - 02 February - 06 February
Sterling went back and forth during the last week with a weekly closing few pints above 1.50 handle. Pair still remains in consolidation, unable to break decisively above 1.52 handle, but with a support that extends all the way to 1.48 handle. As for next week we believe that we can expect support slightly below 1.50 level
, around 1.4950 and 1.4920 area, so this is where we would sell the pair on a short-term basis. Resistive candles above 1.5080 and 1.5130 level should indicate short-term selling opportunity. In long-term trends we until we get more clear signal we are not willing to place any larger bids. Break above 1.53 handle would indicate buying opportunity till 1.55 handle.
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