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 next major resistive point at 1.45 handle.
GBP/USD Daily Forecast - 27 March
Sterling broke higher in the course of the yesterday's session going all the way to 1.4230 level despite no major data releases. Incline was mostly caused by overall weakening of the US dollar. As for tomorrow, with no major data releases focus will again be on global developments – China – USA relationship and Brexit. On a short-term basis, we believe that pair will find some amount of support around 1.4150 and 1.41 area initially, while area above 1.43 handle should offer some amount of resistance.
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