Key Levels for Pound Traders
It’s a massive week for those interested in the pound. With the BOE almost certain to raise rates, the GBP has started the week strongly
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Last updated: Tuesday, October 31, 2017
It’s a massive week for those interested in the pound. With the BOE almost certain to raise rates, the GBP has started the week strongly against most other currencies.
In the GBP/USD, we saw some strength, even against the backdrop of a weak USD. As such I suspect there might be more upside ahead for the GBP.
An obvious plan is to simply buy pullbacks at key levels ahead of the BOE. As it stands there is a 90% of a rate hike. However, there is some clear downside should that not occur.
Key Support and Resistance Levels
|
Support |
Resistance |
|
1.3100 |
1.3268 |
|
1.3083 |
1.3300 |
|
1.3050 |
1.3338 |
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ABOUT THE AUTHOR
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
