The markets are fully pricing a rate hike from the Bank of England for December and November possibility is at %83, rising fast. GBPUSD looks not convinced yet, probably because key resistance levels limit the upside. Today’s weakening of the dollar index helped a bit and the price is now over the downtrend which started in early June. The June-September fall’s middle point is 1.3830 will be the key for up moves to continue. If broken above, 1.3930-1.40 levels can be targeted in the short term. Otherwise, GBPUSD may move sideways for some time to short-term trend channels lower line and take a step from there.
