• The GBP/USD currency pair has been all over the place during the trading session on Thursday, as the Bank of England raised interest rates by 50 basis points.
  • We are sitting just below the 50 Day EMA, and therefore a certain amount of technical resistance should be thought of as existing in this area.
  • It is important to know that a lot of traders will be paying attention in this area, and it’s also important to notice that although the Bank of England raised rates, the British pound initially plunged.

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