GBP/USD to Push Higher?

Frank Walbaum FX Strategies.Asia

With Brexit well underway and with everything more or less decided, there is not much uncertainty left in the markets. The question now is: Has the GBP bottomed out and is it set for a rebound?

GBP/USD was little changed this morning but up 0.9% so far this week as solid UK data prompted market participants to wind back expectations of a rate cut by the Bank of England at its policy meeting next week.

The Pound has not shown significant weakness further and the market might break higher again. Resistance at 1.3100 has been broken and the break of 1.3150 resistance could spark a move towards the 1.3330 level.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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