The GBPUSD turned in a choppy week of results as trading within the currency pair reflected the nervous behavioral sentiment being generated in the broad marketplace- trading forextrading
hit a high of nearly 1.23430 on Thursday of last week after the Bank of England essentially copied the U.S Federal Reserve and increased its Official Bank Rate by 0.25% to 4.25%.
And while inflation continues to cause problems, the corporate banking sector continues to cause worries. The last two weeks of trading have seen the effects of nervous behavioral sentiment cause volatility in Forex and this week could prove to be reactionary too. While support levels certainly held and the lows last week were seen on Monday as the GBP/USD climbed upwards, this is because financial houses suspect the U.S Federal Reserve will be hard-pressed to continue to hike interest rates moving forward, nervousness regarding the corporate banking sector remains a real problem.
If the 1.21900 level is brushed to the side the next test lower for the GBP/USD could be the 1.21700 mark
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