In the upcoming week, keep your eye on the Bank of England Rate Decision. It is expected to keep the stimulus running at its current pace. Officials are likely to raise their inflation forecast for this year, but the outlook for growth remains uncertain amid concerns over the delta variant.
The GBPUSD pair closed last week above the main support level of 1.3883. As long as the price trades above 1.3883 on a four-hourly basis, we will see 1.4005 as the resistance level. Otherwise, if the pair drops below 1.3883, we will follow the next support level at 1.3784.
Support : 1.3883 - 1.3784 - 1.3688
Resistance : 1.4005 - 1.4329
02 Aug 21 (Mon)