FxWirePro: GBP/USD rangebound ahead of BoE, no fireworks expected
GBP/USD broadly rangebound on the day as markets await BoE policy decision and the accompanying minutes The pair weakened in the European session, breached 200-DMA located at 1.5352 and fell as low as 1.5338, later edged…
GBP/USD broadly rangebound on the day as markets await BoE policy decision and the accompanying minutes
The pair weakened in the European session, breached 200-DMA located at 1.5352 and fell as low as 1.5338, later edged higher to currently trade at 1.5367
No fireworks expected from the Bank of England today, expectations are for the policy to remain unchanged, minutes are expected to show 8-1 split on interest rates
Markets will be particularly interested in any discussions relating to the recent market volatility and how it might feed through to medium-term UK inflation
Immediate support for cable is located at 1.5350 (20-DMA), under which the spot could drop to 1.53 levels On the other side, resistance is seen at 1.5377 (21-HMA) and further at 1.54 levels
