The GBP/USD pair is currently testing a strong Trend-Support. BOE's announcement was not entirely clear and might have lead to irrational fear and an underpricing of the currency! Watch for economic news from Britain this weekend and next week. GBP is supposed to bounce up as several interest rates hikes were announced. However, if the economic outlook happens to worsen, the GBP could go down to the lower limit of the channel.
ENTER TRADE ONCE price bounces off support - I'm aiming for an entry at 1.4000 on the support.
If the trend is broken - I'll short at 1.39820.
ENTER TRADE ONCE price bounces off support - I'm aiming for an entry at 1.4000 on the support.
If the trend is broken - I'll short at 1.39820.
Trade active:
