Fundamentally :
Sterling refuses to push much lower, despite growing talk of a 0.25% interest rate at the end of the month.
Turnover is limited with the US market closed in observance of Martin Luther King Day but any selling pressure is met by buyers and the downside for now looks limited.
Technically
Key level of 1.30 Psychological zone seems to be keeping the Pound above Bearish territory. Price Action suggests along with fundamental backing that Sterling will continue seeing a Bullish run amid post General Election Business sentiment.
Break and close Below sees Bears return with next Bearish Target of previous Support at 1.28 - Although unlikely price may be pushed back into Demand zone of 1.22.
This unlikely but still possible - only with unexpected high impact news driving a reaction validation towards this extreme low.
For now, Bullish bias remains as Sterling creeps toward the upside.
Sterling refuses to push much lower, despite growing talk of a 0.25% interest rate at the end of the month.
Turnover is limited with the US market closed in observance of Martin Luther King Day but any selling pressure is met by buyers and the downside for now looks limited.
Technically
Key level of 1.30 Psychological zone seems to be keeping the Pound above Bearish territory. Price Action suggests along with fundamental backing that Sterling will continue seeing a Bullish run amid post General Election Business sentiment.
Break and close Below sees Bears return with next Bearish Target of previous Support at 1.28 - Although unlikely price may be pushed back into Demand zone of 1.22.
This unlikely but still possible - only with unexpected high impact news driving a reaction validation towards this extreme low.
For now, Bullish bias remains as Sterling creeps toward the upside.
Trade attivo
