ANALYSIS
NQ100 Finds Support from PPIApr 14
1.1480 Level May Be Determinant in GBPUSD
In the UK, the new Sunak government's statements that economic stability and confidence will be re-established keep the demand for the pound alive. In addition, sources close to the subject pointed out that a 'jumbo' interest rate hike could be applied at the monetary policy meeting of the Bank of England (BoE) on Thursday, causing the pound to be supported. Under this outlook, as long as it remains above the 1.1480 level indicated by the 50-period weighted moving average, GBPUSD is likely to maintain its upside eagerness. If the GBPUSD parity exceeds above the 1.1645 level permanently, it is likely to raise the 1.1720 resistance. In possible decreases below 50 WMA, 1.1400 support may come to the fore.
