GBP/USD recovers sharply from low of 1.3485, market eyes BOE’s super Thursday
GBP/USD has formed almost a double bottom at 1.3480 and shown a good recovery of almost 100 pips. Market eyes BOE’s super Thursday for further direction. Any hawkish tone by BOE will drag the Pound sterling further down.…
GBP/USD has formed almost a double bottom at 1.3480 and shown a good recovery of almost 100 pips.
Market eyes BOE’s super Thursday for further direction. Any hawkish tone by BOE will drag the Pound sterling further down.
On the higher side, 1.3600 will be acting major resistance and any convincing break above will take the pair slightly till 1.3630 (200- H MA)/1.3676 (10- day MA). Major trend reversal only above 1.4000.
The near term support is around 1.3480 and any break below will drag the pair till 1.3450/1.3400.
It is good to buy on dips around 1.35650-70 with SL around 1.3500 for the TP of 1.36950/1.3750.
