GBP/USD subdued ahead of BoE's decision

FX:GBPUSD   British Pound / U.S. Dollar
51 0
"We expect no change from the BoE at Thursday's meeting and no signals that a change is imminent either."
- Bank of America Merrill Lynch (based on PoundSterlingLive)

Pair's Outlook
The British currency extended its bearish trend for another day yesterday, but with the immediate support cluster limiting the losses just above 1.44. The GBP/USD is now under the risk of breaching the monthly S2, with a sell-off towards the six-year low likely to be triggered afterwards. However, a the Pound is expected to react positively on today's interest rate decision and reverse the trend, after having fallen for more than two weeks. Immediate resistance, namely the weekly S1, does not play an important role in limiting the gains today; thus, the 1.45 level might be retaken.

Traders' Sentiment
Bulls remain strong, as 63% of all open positions are long. The share of sell orders remains unchanged at 57% for the third day in a row.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out