GBP/USD skyrockets to 1.3050

Source: Dukascopy Bank SA
 Positions Today Yesterday Change
 Longs 47% 48% -2.1%
 Shorts 53% 52% 1.9%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Sell Neutral Neutral
 Stochastic(5;3;3) Sell Sell Neutral
 Alligator(13;8;5) Buy Buy Neutral
 SAR(0.02;0.2) Buy Buy Buy
 Aggregate

During Tuesday's trading session, the British Pound appreciated against the US Dollar by 143 pips or 1.11% to end the trading session at 1.3055. On Wednesday morning, the rate slumped to the 1.3030 mark.

Due to a massive surge during yesterday's trading day, it is expected that the rate might trade sideways during today's trading session. Most likely, the British Pound will trade at the 1.3000 level. 

However, the British Pound could depreciate against the US Dollar towards the monthly PP at 1.2924 during today's US FOMC Meeting Minutes release at 19:00 GMT.

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