GBP/USD climbs to 1.2652, up 0.25%, remaining under the 1.2703 weekly high. Technical stance neutral; daily MAs range between 1.2641 and 1.2557. 'Evening star' pattern and bearish RSI suggest potential drop; support at 1.2641/39 , 1.2600, 1.2555 . For bullish move, GBP/USD must surpass 1.2700 and tackle resistance at 1.2730/40. The Pound Sterling gathers some steam versus the Greenback, yet it remains trading below the weekly highs of 1.
The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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Source: FXStreetNews - 🏆 14. / 72 Read more »