GBP/USD Daily Forecast - 16 May

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Wednesday, May 16 2018

GBP/USD Daily Forecast - 16 May

The British pound eased below the 1.3530 level of support yesterday as the currency fell on the jobs report release. Still, we expect to see the consolidation continuing at this price level. A near term rebound back to 1.3530 could signal a brief retest of this level.

If price action turns weaker at this level, we could expect to see the losses falling lower toward the 1.3500 level of support. To the upside, the bias can only shift on a strong close above the 1.3530 level.

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