The cable pair is showing positive moment today ahead of foreign investment, this will create 30000 jobs in and around UK.  Boris Johnson announces $ 10 billion in foreign investment as he rolls the red carpet for business leaders and he welcomes nearly 200 business leaders to the London summit. Microsoft co-founder Bill Gates attends the World Investment Summit at the Science Museum in the capital. The Queen-backed summit is hailed by the government as an opportunity to see the role of the private sector in reducing carbon emissions.

Britain said it had attracted nearly 10 billion pounds ($13.72 billion) from global investors to fund its green regeneration agenda, as it hosted an investment summit involving 200 of the world’s top financiers and executives. The event comes at a time when Britain’s green credentials are in the spotlight, two weeks before it hosts the U.N. COP26 climate summit, where Johnson will try to broker a complex international deal to stall rising global temperatures. Ministers hope to use the event to change summit in Glasgow, as a means of highlighting investment opportunities in the UK in sustainable industries. The Prime Minister will begin the summit on Tuesday with International Trade Secretary Anne-Marie Trevelyan. He will also take part in a discussion with Mr Gates on global efforts to transition from fossil fuels to renewable energy and the role of businesses in climate change.

The £9.7bn of foreign investment being announced by Mr Johnson is a package of 18 deals ranging from wind and hydrogen energy, to carbon capture and storage. Some £6bn of the foreign investment relates to Spanish energy firm Iberdrola confirming its intention to invest in offshore wind through Scottish Power’s East Anglia hub. Subject to planning approval, the scheme aims to generate enough electricity to power more than 2.7 million homes.

The dollar, on the other hand, was in a weak mood yesterday, with production in US factories falling the most in seven months in September, destroying earlier gains in expectations that the Federal Reserve will be closer to raising interest rates than previously expected. U.S. manufacturing output has been hit by a series of global semiconductor shortages, and motor vehicle output has declined, providing further evidence that supply growth barriers are hampering economic growth. Supply disruptions add to concerns about high inflation and increase expectations that the US Federal Reserve will take action to stem inflation.

GBP price action is far more centered on the Bank of England at the moment. Same time yesterday after Bank of England Governor Andrew Bailey sent a fresh signal that the central bank is gearing up to raise interest rates as inflation risks mount.

GBP/USD 4 Hour Chart:

Support: 1.3701 (S1), 1.3677 (S2), 1.3645 (S3).

Resistance: 1.3757 (R1), 1.3789 (R2), 1.3814 (R3).

Amidst this above catalysts the cable pair is on strong positive moment, we expect a bullish trend for GBP/USD.