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Pound/Dollar: Pound Could Leave Equilibria at 13:00 EET

Hourly

Monday’s euro/pound cross is lending support to the UK pound, so instead of falling, the rate has headed north to 1.5496. The price is now by the LB. I don’t have a forecast for today because the BoE’s Mark Carney is set to mix things up. His speech is due to be given at 13:00 EET. If he mentions monetary policy, the pound will swing.

Hourly Graph

Daily

The pound/dollar is consolidating at 1.5460. The bulls are mobilizing towards 1.5580. Mark Carney’s speech means no one knows where the pound will close.

Daily Graph

Weekly

The euro is weakening before the ECB meeting and the pound is receiving support via the crosses. The bulls are having the rate to the trend line at 1.5630.

Weekly Graph

Attention:

Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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