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