GBPUSD Analysis: Advances by another 150 points

Dukascopy Bank Team Dukascopy Bank SA

As it was expected, the Pound continued to appreciate against the US Dollar, following a speech delivered by the External BOE MPC Member Gertjan Vlieghe on Friday. At the moment, the currency rate is moving horizontally in a limbo between the monthly R3 at 1.3701 from the top and the monthly R2 at 1.3485 from the bottom. However, it should be noted that space between the current market price and the above two barriers amounts approximately to 100 pips in both directions. Most probably, the pair is going to continue to move horizontally until the moment when Governor Carney will start answering questions at the Central Banking Lecture hosted by the IMF at 15:00 GMT. Taking into account previous market reaction on similar two events last week, another sharp surge is likely to follow.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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