The surge of the GBP/USD reached above the 1.3160 level, breaking a long term pattern's resistance line.
The GBP/USD should surge, as it found support in a junior ascending pattern.
The Bank of England announcement did not cause much volatility.
The GBP/USD is waiting for the Bank of England announcement at 11:00 GMT.
On Wednesday, the GBP/USD traded near previous trading day's session, but was set to be pushed higher by SMAs into a resistance level at the 1.3040 mark.
The GBP/USD took the expected 100 pips with ease on Monday and even pierced the resistance levels, which were expected to stop it.
On Monday, the GBP/USD was positioned to surge almost 100 base points, as it faced no technical resistance.
After trading almost sideways for the past 24 hours, a surge began on the GBP/USD charts.
Due to a fundamental event the GBP/USD has jumped.
As the Services PMI data was released, the GBP/USD did not stop its decline.
The GBP/USD has passed support at 1.2850 and will go down to the next support level.
GBP/USD began the week with a decline, which is set to continue.
On Friday the Pound was retreating against the US Dollar.
The 58% of all of the GBP/USD positions on SWFX were bullish on Wednesday. Most likely all of these Dukascopy traders have massive gains.
After breaking various patterns on Tuesday, on Wednesday the GBP/USD pair retreated back down.
The GBP/USD pair was breaking patterns on Tuesday, as the recently drawn junior pattern was broken.
On Monday, the GBP/USD tested the support of a weekly pivot point, which managed to hold and support the Pound. The encounter ended in a surge of the Pound against the US Dollar.
The Pound shows some slight downside potential against the US Dollar in this session.
As it was expected on Wednesday, the GBP/USD currency rate broke the narrow ascending pattern on Thursday.
It was expected that the GBP/USD will reach higher in the upcoming trading sessions. Instead the pair has jumped, quickly reaching above the 1.29 level.
The GBP/USD has increased its gains more than expected, as on Tuesday the pair even touched the 1.2850 mark.
On Monday morning the GBP/USD rate fought with the resistance of a weekly and a monthly pivot points.
During the first half of Friday's trading the GBP/USD pair continued to struggle with the resistance located at the 1.2740 mark.
On Thursday morning, the Pound made a short lived attempt to surge against the US Dollar.