has been in consolidation mode for a long while now. We're following this pair at current levels to see if we get a bullish
breakout of the flag pattern
it has been forming. We'd be looking for a bullish
breakout to entail the 200 SMA
holding as support, coupled with the 57 RSI
level. A break higher could eventually send this pair all the way up to the 1.900 levels. Of course, if we do end up being long on the pair we'll stay up to date with news developments with regards to both economies, most notably following the announcements of the two central banks, currently it appears the UK is more likely to hike rates sooner.