The British pound sterling does not stop the rally against the US dollar. The current GBPUSD quote is 1.3000.
The fall of the US dollar provided support for the pound and added to the list of triggers recently launching the rise in the GBP rate.
From the fundamental point of view, the pound relies on the interest rate hike strategy of the Bank of England. The UK is the only large economy where inflation continues to rise. For the Bank of England, an effective tool for fighting price pressure is to tighten the monetary policy. While the interest rate rises, the pound will remain in the ascending channel.
Today it’s worth paying attention to the release of industrial production data in the UK.
Source: Roboforex
