(DAILY NOTION) GBP/USD Possible Soared to 1.3800, Next Mover: BOE Negative Rates

Illustration photo of GBP/USD daily chart from Tradingview

GBP/USD is currently trading around 1.3680, attempt to testing above the resistance level at 1.3665.

Governor Andrew Baily downplayed suggestions that lowering interest rates into negative territory cause the GBP/USD pair up for the past four consecutive four-hour sessions. As for today, investors will be focus on the U.S. inflation data as it is expected that will increase by 1.3% year-over-year in December. The GBP/USD pair will react to the number of coronavirus cases in the UK which continue to rise. Besides that, GBP/USD will also react to the upcoming stimulus speech in the US.

It is possible to gain additional momentum in the short-term in case the right catalysts emerge as the RSI indicator currently at the moderate territory. As reported by Vladimir Zernov, He pointed out that GBP/USD will move towards the next support level at 1.3625 if manage to test and declines below the support level at 1.3665. A successful test at the level of 1.3625 will move GBP/USD to the next resistance level at 1.3575. The pair will continue to head towards the 1.3560 level if manages settles above the 1.3575 level.

Besides that, on the upside, he pointed out that GBP/USD will move towards the resistance level at 1.3755 if manage to above the resistance level at 1.3710. A move above this level will continue to the test of the resistance level at 1.3785.

FOLLOWME GBP/USD Overall Sentiment (As of 03:52 p.m., Jan 13, 2021),

Short - 29.48%

Long - 70.52%

For information please refer to Vladimir Zernov.