The Pound Sterling trade showed positive performance this week with the value added continuing until the end of the week.
Investors are still hoping for Brexit negotiations although at this time the agreement has not yet been reached due to obstacles to fisheries issues.
In the meantime, investors should be vigilant for the possibility of a large price movement impacting the outcome of the policy meeting of the central bank of England (BOE) at 8 pm later.
The price movement on the GBP / USD currency pair chart yesterday showed an increase of more than 100 pips to the latest high level of 1.35500, recording the highest level since May 2018.
But the price again made a drop of almost 100 pips again on trading in the New York session.
The Asian session on Thursday saw the price continue to rise again towards the price level reached yesterday.
A higher price increase is expected to reach around 1.36000.
But if the results of the BOE meeting are dovish and put pressure on the Pound, the price could plunge back below the 1.35000 level.
A lower drop below the Moving Average 50 (MA50) support level within the 1 hour time frame of the price movement will give a bearish trend indicator.
The price zone of 1.34000 and also 1.33000 will be the support level as the price continues to decline.
