Continues the move higher...
The BOE is expected to cut rates later in the week but the GBPUSD trades like the shorts into that decision are feeling the squeeze. The pair has moved to new session highs yet again and above the 1.3335 level which was a swing high on July 13. We traded above that level on July 14 and July 15. The high has reached 1.3356 so far.
Some levels to eye above
- 1.3419. This is the high close since Brexit day
- 1.3434. 200 bar MA on 4-hour chart (green line in the chart above).
- 1.3472-79. Highs from July 14 and July 15.
- 1.3522. High after Brexit week
On the downside look for support at 1.3319-28.
