The British pound has taken a beating in Thursday’s trade since the Bank of England has opted to keep interest rates unchanged. However, it seems that they will likely raise rates within the next several months, despite the market’s attempts to price in a rise.
The support rests at 1.34860 with resistance at 1.35040. The pivot point at 1.34940 is located below the price line. The EMA of 10 is moving with bearish bias in the descendant channel and it is below EMA of 200 and the EMA of 100. Stochastic is moving in the oversold area. The RSI is moving under the level of 50 and the ADX is not showing a clear signal. The MACD histogram is in negative territory and showing a sell signal.

• There is resistance at 1.35040, followed by resistance at 1.35120 and 1.35220.
• There is support at 1.34860. Below, there is 1.34760 and 1.34680.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.