Overall, GBP/USD is ranging across. Recently, GBP/USD broke below the key level of 1.30.
The Bank of England (BoE) will be announcing their monetary policy decision later at 1500 (SGT). It is expected that the central bank will hold interest rate unchanged at 0.10%. It is also expected that all 9 MPC members will vote for an increase in asset purchase. The BoE will also be releasing their quarterly monetary policy report which contains their projections for the economic outlook of UK.
The UK Construction PMI data (Forecast: 55.0, Previous: 56.8) will be released later at 1730 (SGT).
Currently, GBP/USD is testing to break below the key level of 1.30. Its next support zone is at 1.27300 and the next resistance zone is at 1.30400.
Since the result of the U.S. Presidential Election is not yet finalized, look for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.30.
The Bank of England (BoE) will be announcing their monetary policy decision later at 1500 (SGT). It is expected that the central bank will hold interest rate unchanged at 0.10%. It is also expected that all 9 MPC members will vote for an increase in asset purchase. The BoE will also be releasing their quarterly monetary policy report which contains their projections for the economic outlook of UK.
The UK Construction PMI data (Forecast: 55.0, Previous: 56.8) will be released later at 1730 (SGT).
Currently, GBP/USD is testing to break below the key level of 1.30. Its next support zone is at 1.27300 and the next resistance zone is at 1.30400.
Since the result of the U.S. Presidential Election is not yet finalized, look for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.30.