GBP/USD Daily Forecast - 22 March

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Monday, Mar 21 2016

Sterling was pushed lower in the course of the yesterday's session breaking below 1.44 handle. This is just an extension of Friday's pullback. Focus of tomorrow's session will be on UK CPI figures. Weaker than expected data would push pair back to 1.43 handle, while better than forecasted figures would cause rise towards 1.45 handle, where we can expect significant amount of resistance.

Long-term looking, as it was proven on Friday, we can expect a significant amount of resistance above 1.45 handle, so we would first like to see break above this area before placing any larger buying bids. However, we have no interest in selling the pair at the moment.

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