The pair evolves in a multi-day rising channel which confirms its relative strengh over the short term.
The long term outlook remains flat with the Cable trading in a range between 1,59 and 1,67
We will keep a close eye on the coming developments with either a confirmation to the upside with a break above 1,6480 exposing 1,66 or a break below 1,64 exposing a setback towards the 1,63 area.
The BoE minutes (08:30 GMT) will certainly help market the participants to choose one direction.
Provided by atf-forex-trading.com