GBP/USD Forecasting: Pound Sterling Test Key Resistance, Eyes on BOE
GBP/USD keeps its land and trades above 1.3350 after posting strong benefits on Wednesday. Investors stay on the shore waiting for the Bank of England to announce the decisions of monetary policy.
New sales pressure around the US Dollar (USD) allowed GBP/USD to gather rapid speed on Wednesday. US President Donald Trump’s renewed tariff threats revived concerns over the US economic outlook and weighed on the USD. Read more …
Pound under pressure in front of Bank of England meeting
The GBP/USD pair climbed up to 1.3355 on Thursday, as markets have declined for today’s Bank of England (BOE) meetingTraders are closely looking at two major factors: any signal about voting division and future rates between members of the Monetary Policy Committee (MPC).
The central bank is widely expected to deduct interest rates up to 25 basis points (BPS) by up to 4.00%. However, there are speculation that some members, such as Swati Dingra or Alan Taylor, may push for a decrease in more aggressive 50 bps, as seen in May. This should be this, especially if the Pounds may come under significant sales pressure, with a change away from the normal vigilant accent of BOE. Read more …
