FX.co ★ The Bank of England kept the pound from falling

In the second half of this week, the GBP/USD pair has support in the form of the Bank level of 1.2932. As long as the pair is trading above this level, any buy pattern will have a good probability of working out. The target for fixing purchases is the upper zone of Bank liquidity 1.3068. When testing this zone, you will need to commit purchases. If a sell pattern is formed when testing the 1.3068 mark or going beyond it, it is necessary to consider selling the instrument. The main target for the downward movement will be the banking level of 1.2932.

Increased market volatility can lead to rapid implementation of ascending and descending models. Do not discount the possibility of changing the medium-term momentum to an upward one. This will happen if the closing of the next trading session occurs above the level of 1.3068. This will indicate support for growth from the Bank of England and will allow you to keep some of the purchases.