- GBP/USD has formed almost a double bottom at 1.3480 and shown a good recovery of almost 100 pips.
- Market eyes BOE’s super Thursday for further direction. Any hawkish tone by BOE will drag the Pound sterling further down.
- On the higher side, 1.3600 will be acting major resistance and any convincing break above will take the pair slightly till 1.3630 (200- H MA)/1.3676 (10- day MA). Major trend reversal only above 1.4000.
- The near term support is around 1.3480 and any break below will drag the pair till 1.3450/1.3400.
It is good to buy on dips around 1.35650-70 with SL around 1.3500 for the TP of 1.36950/1.3750.
