Transaction Forex Risk Advisory
Nov 01 2017

Technical View – GBPUSD

Sterling is trading little changed near $1.3300 against greenback on Wednesday with market expecting dovish rate hike from Bank of England on Thursday.

“The daily momentum indicators looking flat”, Above the session high of 1.3289, resistance will arrive at 1.3300/10, above which could then see a squeeze towards 35/40 – and above that there is little to stop Cable heading to 1.3400+.”

“On the downside, support will be seen at 1.3270, below which could see a move to 1.3235, at which point it may be worth buying it.