An Opportunity to Buy the British Pound Against Most Currencies Soon

It appears we are facing a significant rise in the British Pound Index soon,

which indicates expected strength for the British Pound against most currencies.

Currently, after breaking the downtrend on the hourly frame on the British Pound Index,

the currency is moving in a sideways direction, and so far the movement indicates

that it is a consolidation process. Therefore, if the consolidation succeeds,

we are expected to see a rise in the index and, consequently, a strengthening of the British Pound.

If the current resistance areas are broken,

the index is expected to continue rising. Also, if it declines to the new demand areas,

located at the 2.7569 levels shown on the chart,

we are expected to see a rise to targets at the 2.766 and 2.770 levels.

Of course, the analysis fails if the new uptrend and support areas are broken,

and a close below them by at least one hour.

Please be careful, as tomorrow we have interest rate news on the British pound.

Expectations indicate a quarter-point rate cut.