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24.11.202008:17 Forex Analysis & Reviews: Bank of England supported the growth of the pound

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Consolidation above the Bank level of 1.3277 indicates support for the pair's growth by the Bank of England. The growth target will be the 1.3408 Bank Liquidity Zone. This will allow you to keep purchasing up to the specified mark. When testing this zone, you will need to fix most of the long position.

If the test of the 1.3408 level occurs before the opening of tomorrow's European session, this will increase the probability of an offer and will lead to a stop in the upward momentum.

As of this moment, it is better to refuse sales. It will require one to two trading days to form a pattern to reverse down the GBP / USD pair. This will allow you to monitor the update of the monthly maximum. Sales can only become relevant if the pattern "false" breakout of the current week's maximum is formed.

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