Following the recent improvement in UK data, the Bank of England was widely expected to sound a little more upbeat about the economic outlook with virtually no one forecasting any further easing of monetary policy.
The GBPUSD pair fell significantly during the course of the day on Wednesday, as we found quite a bit of resistance in the area of 1.34 above.
GBPUSD remains in downtrend from 1.3278. The rise from 1.3059 is likely correction of the downtrend.
The GBPUSD pair went back and forth during the course of the day on Monday, showing signs of confusion.
GBPUSD remains in downtrend from 1.5016, the rise from 1.2795 is likely consolidation of the downtrend.
The GBPUSD pair gapped lower at the open on Monday as anticipated, and as a result we continue to see selling pressure.
GBPUSD’s downward movement from 1.4769 extended to as low as 1.4012.
GBPUSD remains in downtrend from 1.4769, the rise from 1.4332 could be treated as correction of the downtrend.
The GBPUSD pair initially fell during the course of the session on Monday, but turned back around and reached above the 1.45 handle.
The GBPUSD pair broke higher during the day on Tuesday, as we continue to drive towards the 1.45 level.
