Forex4you - Analytics

Forex4you

530.00 7.00/10
60% of positive reviews
Real

GBP/USD: range-bound ahead of key data

Cable is range-bound ahead of major market moving news on Thursday, when the BOE releases its quarterly inflation report and the MPC decides on monetary policy.

The short-term trend is up and favours a break above the multi-touch resistance line and 1.5689 highs, such a move would be expected to reach resistance at 1.5780.

Alternatively a break below the trend-line currently underpinning price and the 1.5527 lows would probably confirm a downside break to a target at 1.5450.

There is a strong possibility confirmation of the next move could come when the BOE publishes its news on Thursday.
GBPUSD04b

Cable is range-bound ahead of major market moving news on Thursday, when the BOE releases its quarterly inflation report and the MPC decides on monetary policy.

The short-term trend is up and favours a break above the multi-touch resistance line and 1.5689 highs, such a move would be expected to reach resistance at 1.5780.

Alternatively a break below the trend-line currently underpinning price and the 1.5527 lows would probably confirm a downside break to a target at 1.5450.

There is a strong possibility confirmation of the next move could come when the BOE publishes its news on Thursday.
GBPUSD04b



To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree