GBP/USD – Week 11 – Correction almost over.
As we anticipated in our last analysis, the British Pound consolidated most part of last week before finding some resistance in the area we highlighted on the chart.
An instant spike in the US Treasury bond yields late last week provided a strong lift to the US dollar and increased the bearish momentum around the Sterling.
Keep an eye on Wednesday’s Bank of England interest rate decision as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
An instant spike in the US Treasury bond yields late last week provided a strong lift to the US dollar and increased the bearish momentum around the Sterling.
Keep an eye on Wednesday’s Bank of England interest rate decision as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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