After rising above 1.2400 during the European trading hours on Wednesday, GBP/USD made a sharp U-turn and closed the day in negative territory. The pa
. The market expectation points to a 25 bps hike to 5.5%. Following the soft Consumer Price Index data for August, however, several financial institutions, including Goldman Sachs, revised their forecasts to say that they were now expecting the BoE to hold theIn fact, the probability of a BoE rate pause has increased to 57% early Thursday, from nearly 20% earlier in the week, according to Reuters' calculations.
1.2300 aligns as initial support and a four-hour close below that level could attract sellers. In that scenario, 1.2240 could be set as the next bearish target before 1.2200 .Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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