GBP/USD Weekly Forecast – 29 January – 02 February

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Saturday, Jan 27 2018

GBP/USD Weekly Forecast – 29 January – 02 February

Sterling broke well above 1.40 handle int the course of the last week going all the way to 1.4340 area, where pair found some amount of resistance and after some bullish comments from President Trump on strength of US dollar pair pulled back to a weekly. Closing around 1.4160 level. Next week we would pay attention to UK PMI figures and US NFP report as well as FOMC interest rate decision. On a short-term basis, we believe that pair will find some amount of support around 1.41 and 1.40 area initially next week, while area above 1.43 handle should offer some amount of resistance.

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 1.35 handle.

More in this category: « AUD/USD Weekly Forecast – 29 January – 02 February EUR/USD Weekly Forecast – 29 January – 02 February »

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