The (GBPUSD) has spent this week catching its breath just above descending wedge resistance (on the weekly chart).  Volatility is about to surge following today’s 7am EST BoE monetary policy report/summary and rate announcement, the 730am EST comments from BoE governor Bailey, and Friday’s highly anticipated US Non-Farm Payrolls (NFP).  Any break below triangle support (on the 4hr chart) will likely coincide with a retest of the psychologically key 1.2 whole figure level, although a further slide to the July low sometime in August is unlikely.  Watch as usual for any signs of escalation in the Ukraine-Russia conflict. The weekly RSI, Stochastics and MACD are bottomish, but weighed by the tiring daily Stochastics.  I am looking to go long in the green zone (of the daily chart), targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on GBPAUD, SILVER

GBPUSD Weekly/Daily/4hr

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(FXB)