BombayBulls

Can BOE Push GBP/USD Below 1.30 ? - 8/4/2016

FX:GBPUSD   British Pound/U.S. Dollar
46 0 2
Bank of England has cut 0.25 basis point to bring the rate to 0.25 from 0.50 and little addition to QE             today. So now the question is, whether it is enough to plummet the pound below 1.30 line. Judging from the initial price action, it doesn't look like but it is too early though. If 1.30 doesn't blow out today then be ready for the squeeze part two with GBP/USD             . AUD/USD             showed us how resilient it is by keep on rising higher even after RBA rate cut. Pound can follow that suit with even nastier side, because unlike Australian Dollar             , pound moves will not be contained within just 100 / 150 pips.
We will be watching this price action closely and if GBP/USD             manages to settle above 1.32 / 1.3250 with positive pulse then, 1.35 is not that far !
Besides, as we highlighted earlier about S&P             , that if it can't take out the support near 2120 then direction is still higher. Now you can see how bubbly it is with just few more quids into the system ;) Tough to bet against indices when there is never ending free money around.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out