The Pound Sterling registers anemic losses against the US Dollar as traders brace for the Bank of England’s (BoE) monetary policy decision on Thursday.
GBP/USD trades with minor losses, movements bounded by key levels before BoE decision. Technical outlook neutral to slightly bullish; resistance at recent high of 1.2594 and 50-DMA at 1.2607. Break below 200-DMA at 1.2545 could trigger further declines, with supports at 1.2500 and May 1 low of 1.2466. The Pound Sterling registers anemic losses against the US Dollar as traders brace for the Bank of England’s monetary policy decision on Thursday. The pair remained within the 1.2529-1.
Once cleared, that could pave the way to test 1.2600, ahead of the 50-day moving average at 1.2607. Further upside is seen at the 100-DMA at 1.2640, followed by the April 9 high at 1.2709. On the other hand, if the GBP/USD dips below the 200-DMA at 1.2545, that would exacerbate a test of 1.2500. Once hurdled, the next support emerged at the May 1 low of 1.2466, followed by the 1.2400 figure. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2552 Today Daily Change -0.
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