The Bank of England (BoE) met to decide on monetary policy last week (9/14) and concluded by keeping the official bank rate at 0.25% . However The BoE surprised the market with guidance to raise its benchmark interest rate. independent.co.ukThe Bank of England has said UK interest rates are likely to rise “over the coming months” in order to curb inflation, preparing the ground for the first rise in the cost of borrowing in a decade.While a rate hike would mean bigger returns on savers’ bank deposits, it would also mean higher repayment costs for many mortgage borrowers. An increase would also run the risk of choking off overall economic growth, at a time when activity is already weakening markedly because of uncertainty over Brexit. In its latest meeting on Thursday, the Bank’s nine member Monetary Policy Committee (MPC) voted by a 7-2 margin to keep rates on hold at their record low of 0.25 per cent....The market reacted by buying the pound across the board. GBP/USD Weekly Chart(click to enlarge)Resistance Area:- The GBP/USD for example has been making a come back in 2017. - Last week's upswing accelerated the reversal but also puts GBP/USD at a key resistance area. - First of all, there is a falling resistance that will try to keep the pair fro pushing above 1.36. - I think next week, price will be sticky around 1.36. But if it can close above it, GBP/USD would open up the 1.3830 to 1.40 area. - For now, we should limit the bullish outlook to 1.40.