GBPAUD started an uptrend movement after BOE rate decision
Today, the Bank of England cut interest rates by 25 basis points to 4% from 4.25%.
BoE Governor Bailey explained that he has not changed his view on the direction of the interest rate path, the question is the timeframe. The BoE is hinting at prolonged higher rates, weighing on growth, sending an aggressive signal to the market.
GBPAUD strengthened after the rate decision was released and has risen further since then.
GBPAUD broke out of this bullish triangle pattern. The breakout looks strong and the volume that the price has increased was high.
I expect a small pause before GBPAUD moves further to 2.0650 and possibly higher to 2.0700, where it was also rejected several times, but where it was also tested several times.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Today, the Bank of England cut interest rates by 25 basis points to 4% from 4.25%.
BoE Governor Bailey explained that he has not changed his view on the direction of the interest rate path, the question is the timeframe. The BoE is hinting at prolonged higher rates, weighing on growth, sending an aggressive signal to the market.
GBPAUD strengthened after the rate decision was released and has risen further since then.
GBPAUD broke out of this bullish triangle pattern. The breakout looks strong and the volume that the price has increased was high.
I expect a small pause before GBPAUD moves further to 2.0650 and possibly higher to 2.0700, where it was also rejected several times, but where it was also tested several times.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
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Disclaimer
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.