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GBP / USD is targeting the 1.40 level

The GBP / USD pair continues to move up and today is trading above 1.39.

The fundamental background has not changed significantly. The British pound sterling continues to be supported by the results of the Bank of England meeting held at the beginning of the month, at which the regulator denied rumors about a possible interest rate cut. The regulator with restrained optimism assessed the prospects for the development of the UK economy and announced that it does not plan to make changes in monetary policy in the near future.

 

The situation on stock markets continues to have a positive impact on all risky assets. Investors are showing increased interest in risky assets amid growing optimistic expectations about the prospects for the global economic recovery.

There is no important news in the UK economic calendar today.

 

On the chart, the currency pair broke through the level of 1.3900, which is a good signal for the continuation of the bullish trend towards 1.4000.

 

  • Resistance levels: 1.4000, 1.4100, 1.4200;

 

  • Support levels: 1.3900, 1.3855, 1.3765.

 

The main scenario is a pullback to 1.3900 and growth in the direction of 1.4000.

 

An alternative scenario is consolidation below 1.3900 and a decline to 1.3855.

 

The current fundamental outlook is moderately positive. We are considering longs from the level of 1.3900.

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