GBP/USD stays relatively quiet and fluctuates in a tight channel above 1.2700 in the European morning on Thursday.
Pound Sterling edges lower after posting small gains on Wednesday. The Bank of England is forecast to maintain bank rate at 5.25%. Vote split could trigger a reaction in Pound Sterling. The Bank of England's monetary policy announcements could trigger the next big action later in the session. The BoE is widely expected to leave the policy rate unchanged at 5.25% following the June policy meeting.
If the pair drops below this level and starts using it as resistance,1.2640 could be seen as next support before 1.2600 . On the upside, resistances are located at 1.2740 , 1.2800 and 1.2850 . BoE FAQs What does the Bank of England do and how does it impact the Pound? The Bank of England decides monetary policy for the United Kingdom. Its primary goal is to achieve ‘price stability’, or a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates.
Currencies Majors Technical Analysis
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD: BoE's Dovish Surprise Could Spark Selloff - Watch for a Break Below 1.26Forex Analysis by Investing.com (Damian Nowiszewski) covering: GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
BoE, Sterling Outlook: GBP/USD, GBP/CHF Key Levels and Scenarios to WatchAll eyes will be on the pound this week with crucial CPI data and the Bank of England rate decision in the balance. The Swiss National Bank adds uncertainty to the mix
Read more »
GBP/USD finds a foothold ahead of BoE’s upcoming rate callGBP/USD elbowed its way firmly above 1.2700 in quiet Wednesday trading as GBP traders gear up for Thursday’s latest outing from the Bank of England (BoE), which is expected to keep rates on hold at 5.25% even as UK economic data continues to miss the mark, but not badly enough to spark institutional fears of an outright recession.
Read more »
GBP/USD Price Analysis: Consolidates above 1.2700 mark as traders await BoE policy updateThe GBP/USD pair trades with a mild negative bias during the Asian session on Thursday and moves further away from the weekly low, around the 1.2740 area touched the previous day.
Read more »
GBP/USD Forecast: Strong US labor market data spoils the Pound Sterling’s partyThe Pound Sterling (GBP) continued its battle with the 1.2800 level against the US Dollar (USD) this week, as the GBP/USD pair lost momentum after clinching a fresh three-month top near 1.2820.
Read more »
GBP/USD Forecast: Pound Sterling eyes 1.2800 as bullish momentum persistsThe Pound Sterling (GBP) tested 1.2800 against the US Dollar (USD) this week, as the GBP/USD pair hit a new two-month high before sellers jumped back into the game.
Read more »