ANALYSIS
NQ100 Finds Support from PPIApr 14
Recovery in GBPUSD is not likely to last longer
US dollar’s recent move led to recovery in the pair. However, Bank of England Governor will speak tomorrow and on Friday within the scope of IMF meetings and he is expected to highlight the differences in policies of the Fed and BoE, leading to pressure on pound. In addition, US treasuries put additional pressure on it. Technically, as long as it stays below 1.3120 support, we will follow 1.3000 support closely in the pair. We will also keep an eye on 1.2935 for further decreases. On the other side, 1.3175 will be our resistance above 1.3120 resistance.
