The British pound exploded to the upside during the week, as the Bank of England suggested that perhaps rate hikes were coming relatively soon. From a
The British pound exploded to the upside during the week, as the Bank of England suggested that perhaps rate hikes were coming relatively soon. From a technical point of view, we have filled the gap that formed in the middle of 2016, so now we are going to face a significant amount of resistance in the form 1.3650. Although we could pull back, certainly the momentum is to the upside, so I’m not willing to sell even as I suspect there will be a lot of resistance. A break above the 1.3650 level would be extraordinarily bullish.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
