FxWirePro: GBP/USD rallies to 10-month high ahead of BoE "Super Thursday", scope for further upside

• GBP/USD rose to hit a 10-month high on Monday as investors eyed this week's Bank of England "Super Thursday" for a steer on whether record-low interest rates could soon be lifted for the first time in more than a decade.
   
• Sterling has been supported in recent weeks by expectations that the Bank might finally be getting ready for a hike after a series of hawkish comments from policymakers, but Governor Mark Carney and most of his top officials seem set to remain in wait-and-see mode for now.
   
• The pound jumped to hit 10th month high at $1.3199 in the early US session, it was last trading at 1.3177.
   
• The ongoing upside is set to continue for this pair as the support level at 1.3054 is likely to act as strong barrier to the bears and push the pair towards higher level.
   
• To the upside, immediate resistance can be seen at 1.3211, a break above this level would expose the cable to next resistance level at 1.3251 levels.
   
• To the downside strong support can be seen at 1.3133, a break below at this level will open the door towards next level at 1.3054.
  
  Resistance Levels
  
  R1:  1.3211 (38.2 % Retracement level)
  
  R2: 1.3251 (Sep 16 2016 high)
  
  R3: 1.3305 (23.6 % Retracement level)
  
  Support Levels
  
  S1: 1.3133 (50 % Retracement level)                       
  
  S2: 1.3054 (61.8% Retracement level)
  
  S3: 1.3000 (Psychological levels)

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