Brexit drama continues but GBP has been less volatile in recent days. Traders are not buying hawkish Bank of England due to uncertainty prevailing around Brexit saga. When many banks are turning dovish and FED is not raising rates further, Bank Of England remain cautious hawk. Mr Carney has hinted strong series of rate hikes in the event of smooth Brexit. That helped British Pound to remain resilient in the face of Brexit uncertainty and will help to rise in coming weeks.
From a technical perspective, Inverse head and shoulder is forming on weekly charts, which if manage to break neckline has resistance around 1.35(weekly 200sma), 1.38, 1.40 and ultimately 2018 high(1.43 region)
From a technical perspective, Inverse head and shoulder is forming on weekly charts, which if manage to break neckline has resistance around 1.35(weekly 200sma), 1.38, 1.40 and ultimately 2018 high(1.43 region)