GBP/USD Daily Forecast - 18 March

Sterling was pushed higher in the course of the yesterday's session. Pair went as far as 1.45 handle, but since this is a major psychologically important resistive barrier, pair pulled back slightly by the end of the session. After Wednesday's Fed's rate decision, pair was further supported by BoE's more hawkish stanzas than expected. Tomorrow, we expect some amount of support around 1.44 handle, as this was previously resistance, while area above 1.4550 handle, should offer some amount of resistance. Read more...

GBP/USD Daily Forecast - 18 March

Focus of the yesterday's session was on BoE's rate decision and the following Minutes. Bank of England left interest rates on hold and warned that rising uncertainty over Brexit could hit the economy. The BoE’s monetary policy committee voted unanimously to leave borrowing costs at their current record low of 0.5%, extending a run dating back to March 2009. Policymakers also voted 9-0 to leave the Bank’s quantitative easing program unchanged at £375 billion.

BoE keeps rates at record low of 0.5%

GBP/USD Daily Forecast – 17 March

After initial decline in the course of the yesterday's session, despite rather good UK job figures, Sterling managed to rebound completely after FOMC interest rate decision and the following statement and even broke above 1.42 handle. Tomorrow, focus will be on BoE Meeting Minutes. Any type of supportive candles around 1.41 level and 1.4080 area, would be short-term buying signal, while resistive candles above 1.43 and 1.4350 area in extension, would offer short-term buying opportunity.