Big week ahead for this pair with investors awaiting news .
Sentiment on this pair is bearish with concerns around Omnicron Variant and the gov't response as to whether Money supply will increase in the form of Covid relieve or more lockdowns will be announced.
Potential catalyst which would likely reversed the bearish sentiment is to be expected on thursday with as the MPC will announce thier Monetary Policy and Official Bank rate (Interest rates).
An increase in this official Bank rate will drive investors to buy the Pound. Should the MPC increase money supply, hence reducing or maintaining interest rates,keeping the cheap money era alive, expect investors to keep pushing the price much lower.
Being at an major area of Demand i expect everything around the pound to line up for long term bullish run.
Sentiment on this pair is bearish with concerns around Omnicron Variant and the gov't response as to whether Money supply will increase in the form of Covid relieve or more lockdowns will be announced.
Potential catalyst which would likely reversed the bearish sentiment is to be expected on thursday with as the MPC will announce thier Monetary Policy and Official Bank rate (Interest rates).
An increase in this official Bank rate will drive investors to buy the Pound. Should the MPC increase money supply, hence reducing or maintaining interest rates,keeping the cheap money era alive, expect investors to keep pushing the price much lower.
Being at an major area of Demand i expect everything around the pound to line up for long term bullish run.