Bank of England held again the fall of the pound at 1.2898

Holding the level of 1.2898 indicates the importance of the banking zone for further priority determination. The probability of closing today's trading above this mark is 75%, which allows you to close part of the sales that opened last week. A further drop will be possible after tomorrow's opening of the European session. The downward trend may become the main one for the first half of the month.

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We get a huge advantage by working from the boundaries defined by the Bank of England, since the presence of large limit orders keeps the price from a strong rise or fall.

To form a reversal growth model, you will need to close tomorrow's trading above the opening of the European session. This will open the way for the strengthening of the British pound and make it possible to enter into medium-term purchases. Tomorrow, you will need to adjust the plan as a new zone of banking activity will appear.

The material has been provided by InstaForex Company - www.instaforex.com