Thursday 14 July 2016

GBP/USD

Bank of England announced today that will keep the main interest rate at 0.5% and the major expectations are postponed for August. The GBP/USD pair might not be so seductive for the bulls in the scenario of rate cut, and bears can not play a leading role until finding stronger resistance levels.
There are three important levels if observing next tryouts of the pair to find stronger resistance zone. 1.3500 is the lowest point during the financial meltdown and as well is considered as a major psychological level. 1.3840 is holding the line of 7 years low before Brexit and in case of deeper retracement, this could turn to excellent resistance level. The third major level is located at 1.4004 as this is the pre-Brexit swing low.



No comments:

Post a Comment