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 – 08 January – 12 January
Sterling was initially pushed higher in the course of the last week, breaking above 1.36 handle, but there found plenty of resistance in order to pullback to 1.35 handle which proved to be supportive enough in order for pair to rebound to the weekly closing around 1.3570 level. Next week we would be focused on UK Industrial Production figures and US CPI data. On a short-term basis, we believe that pair will find some amount of support around 1.35 and 1.3450 area initially next week, while area above 1.3650 handle should offer some amount of resistance.
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