By - Jamel Lahiani
Today our analysis will be concerned with The British Pound against the US Dollar is one of the oldest currency pairings in the world. It is often called the Cable connecting USA to Great Britain and it was used to transmit currency prices between the two economies. The Cable remains a favorite of traders today, accumulating massive interest considering the size of The UK economy.
GRAPHIC1: GBPUSD DAILY CHART (AUGUST 1, 2019)
The daily chart is trending down between the two limits at the top the resistance in red and at the bottom the support line in green. The pair is nearest the lowest record for many months before the publication of BOE “The Bank of England” governor concerned with many high impacts data. If the data published is soo important than the past data this could have a high impact to the EURUSD pair in the future. A breakout of the tow limit green or red can give the direction of the trend. If the breakout is from the green line to the downside that means the pair will remains bearish “SELL”. If the breakout is from the red line to the top that means the pair will be bullish “BUY”. The most important publications by BOEs governor at 11 H GMT are as follow: Quarterly Inflation Report, BoE Interest Rate Decision, BoE Asset Purchase Facility and BoE’s Governor Carney speech.
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