By FXEmpire.com

The GBP/USD pair had an absolutely smashing week as it shot straight up. The Bank of England has taken further quantitative easing off of the table, and as a result there is a good chance this currency could be the first one to have a rate increase. It isn’t thought that it will happen in the immediate future, but the overall tone should be stronger for this pair. The pair looks as if it is at a minor resistance level, and should overcome it. However, we are waiting for a break of the weekly high in order to go long. Selling isn’t a thought at the moment.

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Originally posted here