FxWirePro: GBP/USD trades higher on hawkish comment from BOE, good to buy on dips
Cable hits three week high yesterday on hawkish statement by BOE Carney on removal of stimulus program. The pair hits 1.3000 almost near to 2017 high .It is currently trading around 1.2970. The BOE governor Carney told a…
Cable hits three week high yesterday on hawkish statement by BOE Carney on removal of stimulus program. The pair hits 1.3000 almost near to 2017 high .It is currently trading around 1.2970.
The BOE governor Carney told a ECB conference in Portugal that it is necessary to remove monetary stimulus and also to raise rates if British economy grows up.
On the lower side the pair’s near term support is around 1.2908 (23.6% retracement of 1.25890 and 1.30072) and any break below will drag the pair till 1.2850/1.2800 (daily Kijun-Sen).
The near term minor resistance is around 1.300 and any break above will take the pair till 1.3050 (May 18th high). The pair should break above 1.3050 for further bullish continuation.
It is good to buy on dips around 1.2900 with SL around 1.2845 for the TP of 1.300/1.3045.
