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.
GBP/USD Weekly Forecast - 05 February - 09 February
Sterling was initially pushed lower in the course of the last week, but found some amount of support around 1.40 handle and was then pushed higher going all the way to 1.4280 area which proved to be quite resistive and pair plunged again on Friday after NFP figures to a weekly closing slightly above 1.41 level. As for next week focus will be on BoE Inflation Report and interest rate decision. On a short-term basis, we believe that pair will find some amount of support around 1.40 and 1.3950 area initially next week, while area above 1.43 handle should offer some amount of resistance.
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