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
Rowan Crosby•Tuesday, October 31, 2017•1 min read
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.
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