– Buys on close above 171.360 on the break of the previous Weekly high targeting 4h previous Support formed on 4th Feb 2016 at 171.800, Leaving Runners to the 4h Resistance formed on 4th Feb 2016 at 172.350.
– Sells on close below 170.870 targeting 30min Support at 170.470, Leaving Runners to the Daily / 4h previous Resistance at 170.150.
– We have major news event the upcoming week the Official Bank Rate for the Pound Sterling, High volatility expected and as the rates are forecasted to rise to 3.00% from 2.25% so we could possibly see price pushing up at the beginning of the week to then potentially drop with the news as the rate hike is considered bad for the economy due to current circumstances of high inflation.
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