GBP/USD- Pushing higher this week
On Thursday, the Bank of England is likely to hike the bank rate once again, to calm stubborn inflation. Current consensus suggests a 25-basis point hike is most likely with markets even pricing in an outside chance of a 50 bps-hike.
When this does take action the price of the cable is currently at a strong support and will be looking to bounce higher. A medium target would sit around 1.30/1.32.
A buy order will be set for 1.26548 with a SL at 1.25108.
When this does take action the price of the cable is currently at a strong support and will be looking to bounce higher. A medium target would sit around 1.30/1.32.
A buy order will be set for 1.26548 with a SL at 1.25108.
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