The Pound Repeats The Bullish Attack Ahead of BoE Decisions

The British pound rallied against the US dollar to achieve noticeable gains during the previous trading session within the expected bullish context, in which we relied on confirming the breach of 1.3965, targeting 1.4020, to settle for recording the highest 1.4000.

On the technical side, trading stability above 1.3940 supports the possibility of continuing the rise, and on the other hand, we find stochastic is trading around the overbought areas clearly, accompanied by the pressure coming from the 50-day moving average, which still constitutes an obstacle to further rise.

We will stand aside today until the next daily trend becomes clear, especially in light of waiting for the interest decision from the Bank of England and the monetary policy summary, which will have a very high impact on the movements of the pair.

S1: 1.3925	R1: 1.4000
S2: 1.3880	R2: 1.4040
S3: 1.3840	R3: 1.4080