The GBP/USD pair could be in for additional gains as exposed by the Forex signals on its 4hrs time frame. The pair just bounced off a increasing trend line that had been holding since previous year and is screening momentum for a rally to its previous highs.
The statement from the UK economy has been bleak recently though, with both manufacturing and construction PMI unsatisfactory.
What's sustaining the pound up is positive interest rate prospects from the BOE, as Carney has stated a couple of times that the central bank is since hiking rates shortly.
Earlier today even stated that the first rate hike could occur before the general elections in the UK.
