Despite the BoE decision to hike rates, price continued its downward momentum to test key support. look for a sharp rebound from support or another dip to test key support.
Scenario One (Rebound): Price rebound from key support, heading to the key resistance
Scenario Two (Bearish Breakout): Price breaks key support
Comment: Scenario One is defiantly the most likely one. Don't forget that the North American traders are just digesting the recent BoE hike. In addition, the UK's economy and its market remains strong.
Scenario One (Rebound): Price rebound from key support, heading to the key resistance
Scenario Two (Bearish Breakout): Price breaks key support
Comment: Scenario One is defiantly the most likely one. Don't forget that the North American traders are just digesting the recent BoE hike. In addition, the UK's economy and its market remains strong.