Sterling was initially pushed higher in the course of the yesterday's session but found some amount of resistance around 1.4060 level and was then pushed lower however managed to finish the session around 1.40 handle. As for tomorrow we would pay attention to UK job figures, however, the focus of the session will be FOMC interest rate decision. 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 1.41 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. We expect next major support around 1.35 handle and resistance above 1.40 area.

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