The British currency jumped 200 points after the decision to leave interest rates unchanged. During the committee meeting on monetary policy BoE decided to keep the rate 0.50%. From the comments that followed, it became known that the new stimulus measures are likely to be introduced in a month after Brekzita.
In yesterday's trading the pair GBP / USD resumed its upward movement and increased by approximately 1.45%. Support in the area of 1.3100 stopped the pair decrease, then the price has risen to the area of 1.3300 and closed trades above this mark. Resistance is located at 1.3500, support - at 1.3300.
MACD is in the positive zone, histogram indicator grew yesterday that talks about strengthening the position of the buyer. RSI rebounded from overbought zone, indicating that sellers gain positions.
On the 4-hour chart, the price remains below the 100-EMA, which acted as strong resistance for the price. The pair rebounded from the 100-EMA and stayed near her.
Forecast GBP / USD today
In GBP / USD pair has upside potential. In the case of this scenario, the pair will rise to 1.3700. It is possible decrease in prices with Target at 1.2900.
Based on materials from Fort Financial Services