The British pound initially went sideways on Thursday, showing signs of hesitation before the Bank of England meeting. Although there was no interest rate high, the Bank of England suggested that perhaps interest rate hikes could be coming soon. Because of this, the British pound gains significantly, and it now looks as if the markets are ready to continue going higher and drive the value of the pound towards the 1.34 handle, and beyond. I believe that short-term pullbacks are going to be buying opportunities as the British pound continues to outperform the US dollar.
Written by FX Empire