Overall, GBP/USD is trending upwards. Recently, GBP/USD trended lower, breaking the support zone of 1.25000.
Yesterday, the Bank of England (BoE) held interest rates unchanged at 0.10%. The central bank also increased their asset purchase programme by 100 billion pounds with 8 out of 9 committee members voting for the increase. At the same time, BoE also highlighted the risk of a higher and more persistent unemployment.
The UK Retail Sales m/m data (Forecast: 6.3%, Previous: -18.1%) will be released later at 1400 (SGT).
GBP/USD’s next support zone is at 1.22400 and the next resistance zone is at 1.25000.
With the increment of asset purchase and the dovish outlook from BoE, look for selling opportunities of GBP/USD.
Yesterday, the Bank of England (BoE) held interest rates unchanged at 0.10%. The central bank also increased their asset purchase programme by 100 billion pounds with 8 out of 9 committee members voting for the increase. At the same time, BoE also highlighted the risk of a higher and more persistent unemployment.
The UK Retail Sales m/m data (Forecast: 6.3%, Previous: -18.1%) will be released later at 1400 (SGT).
GBP/USD’s next support zone is at 1.22400 and the next resistance zone is at 1.25000.
With the increment of asset purchase and the dovish outlook from BoE, look for selling opportunities of GBP/USD.