Sterling fell intially in the course of the yesterday's session but found some amount of support around 1.3920 level in order rebound and finish the session slightly above 1.3960 level. With no major data releases from the UK tomorrow, we would pay attention to US figures. On a short-term basis, we believe that pair will find some amount of support around 1.39 and 1.3880 area initially, while area above 1.4050 handle should offer some amount of resistance.

On a long-term basis we would be on the sidelines for this pair, however, selling is not an option, after this rebound. We expect next major support around 1.35 handle and resistance above 1.40 area.

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