The GBP/USD currency pair has been all over the place during the trading session on Thursday, as the Bank of England raised interest rates by 50 basis points.
We are sitting just below the 50 Day EMA, and therefore a certain amount of technical resistance should be thought of as existing in this area.
It is important to know that a lot of traders will be paying attention in this area, and it’s also important to notice that although the Bank of England raised rates, the British pound initially plunged.
