GBP/USD Entering the Zonal Support

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The GBP/USD has formed a retracement pattern and could be going up straight from the POC zone. The market is at support, bounce is expected.

Today the BOE will decide on the rates and future monetary policy guidance. It will be important to hear what the gov Bailey and rest of members think about next steps in economic policy. The GBP uptrend is expected but any surprises might weigh down on the currency. 1.3546-1.3570 is the zone where we expect the bounce. Targets are 1.3620 and 1.3665. Swing targets are 1.3700 and 1.3735. Watch for buying the dip.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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