GBP/USD prepares for BoE decision

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 38% 39% -2.63%
Shorts 62% 61% 1.61%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

In result of release of various American fundamental data, the cable stopped the surge and returned back to the 1.3250 mark, from which it made a rebound in the beginning of this trading session.  

Until announcement of the Bank of England decision, the pair most probably is going to move horizontally near the 1.3290 level. Afterwards, the Pound is widely expected to strengthen. The surge might be quite sharp, as northern side contains no barriers except for an alleged resistance at 1.3338 and the weekly R2 at 1.3370. 

The upside momentum might be additionally reinforced if President Trump will pick Governor Powell, as the new Fed Chair. The upward movement is also supported by existence of a medium-term ascending channel.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.