As it was expected, a steady horizontal movement represented an anticipation of the speech that was delivered by Governor Carney yesterday. On the one hand, it did not let to the anticipated appreciation of the Pound. But on the other hand, the plunge of the rate was expectedly neutralized by a combination of the 55-hour SMA and the monthly R2 at 1.3485. At the moment, the currency rate is not facing any resistance on its way up until the monthly R3, which is located at the 1.3701 level. In contrast, the opposite direction contains a whole package of technical indicators, including the weekly PP and the approaching 100-hour SMA, which altogether form a combined support level. Accordingly, the Sterling is likely to continue to pave the path to the top.
