Overall, GBP/USD is trending upwards.
The UK Construction PMI data (Forecast: 53.0, Previous: 54.6) will be released later at 1730 (SGT).
The Bank of England (BoE) will be announcing their monetary policy decision later at 2000 (SGT). The central bank is expected to hold its monetary policy unchanged. Nonetheless, look out for the BoE’s view on the adoption of negative interest rates.
A press conference will also be held afterwards at a tentative timing. During this time, volatility is expected of GBP.
GBP/USD’s next support zone is at 1.34800 and the next resistance zone is at 1.37800.
Look for short-term selling opportunities of GBP/USD up until the BoE’s monetary policy announcement.
The UK Construction PMI data (Forecast: 53.0, Previous: 54.6) will be released later at 1730 (SGT).
The Bank of England (BoE) will be announcing their monetary policy decision later at 2000 (SGT). The central bank is expected to hold its monetary policy unchanged. Nonetheless, look out for the BoE’s view on the adoption of negative interest rates.
A press conference will also be held afterwards at a tentative timing. During this time, volatility is expected of GBP.
GBP/USD’s next support zone is at 1.34800 and the next resistance zone is at 1.37800.
Look for short-term selling opportunities of GBP/USD up until the BoE’s monetary policy announcement.