Source: PaxForex Premium Analytics Portal, Technical Insight

Head of the Bank of England Bailey: The size of the Bank of England's balance sheet will be a major concern over the next 5 years.

GBP/USD,D1

Pivot: 1.4116

Analysis:

While the price is above 1.3970, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4116
• Take Profit 1: 1.4240
• Take Profit 2: 1.4380

Alternative scenario:

If the level 1.3970 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3970
• Take Profit 1: 1.3800
• Take Profit 2: 1.3670

Comment:

RSI shows the development of an uptrend in a medium term.

Key levels: