TipTVFinance

GBP/USD – Falling trend line could be breached

OANDA:GBPUSD   British Pound / U.S. Dollar
Support

1.2285 (monthly Fib pivot + weekly 5-MA)
1.2221 (previous day’s low)
1.2083 (Oct 25 low)

Resistance

1.2360 (falling trend line resistance)
1.2534 (4-hr 200-MA)
1.2694 (10-DMA)

Comments: Pound stands to gain if BOE meets market expectations

The BOE has been likely to confirm what the market already knows - there is little room left for a further cut in the interest rates.

The central bank is widely expected to revise its short-term inflation and growth forecasts higher and long-term growth forecasts lower.

Unless there is dovish surprise, the British Pound could move higher, consequently, the descending trend line could be breached.

On the charts, except for the moving averages there is no critical level that could act as a resistance till 1.2798 (July 6 low).

The pair could revisit and may actually breach recent key support of 1.20873 if the BOE drops a bomb by hinting at a future rate cut.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out