The downtrend has been confirmed after a break of 1.2466.
We have just seen the Official Bank Rate in the GBP, the news summary is below:
However, they do not feel the time is right to cut the interest rate.
GBPUSD:
The idea is to buy the current swing (wave of disbelief), this is expected to be a strong reversal to clear all the stops above the current price. This wave should not take the high of last week's 1.2634, but we are expecting the 1.2564 to be broken before we can start to think of selling again.
We have just seen the Official Bank Rate in the GBP, the news summary is below:
However, they do not feel the time is right to cut the interest rate.
GBPUSD:
The idea is to buy the current swing (wave of disbelief), this is expected to be a strong reversal to clear all the stops above the current price. This wave should not take the high of last week's 1.2634, but we are expecting the 1.2564 to be broken before we can start to think of selling again.
