On a long-term basis, we would be buyers for this pair, despite this decline, as we believe there is still some strength in the pair. Selling is not an option, as long as the pair is above 1.35 handle.
GB/USD Weekly Forecast - 5 March - 9 March
Sterling found plenty of resistance above 1.40 handle in the course of the last week and was pushed lower going all the way to 1.37 area, where it found some amount of support and managed to rebound in order to finish the session around 1.3760 level. Decline was mostly caused by Brexit concerns. As for next week, focus will be on UK Industrial Production figures. On a short-term basis, we believe that pair will find some amount of support around 1.37 and 1.36 area initially next week, while area above 1.39 handle should offer some amount of resistance.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419