GBP/USD Outlook (09 September 2021)
Overall, GBP/USD is ranging across. Recently, GBP/USD broke the support zone of 1.38000.
During the testimony yesterday, Bank of England Governor Bailey highlighted that the central bank does not think that the current level of inflation will be persistent. Also, Governor Bailey said that during the August monetary policy meeting, half of the committee members felt that the minimum necessary conditions were met to hike rates while the other half felt otherwise.
Currently, GBP/USD is testing the support zone of 1.38000 and the next resistance zone is at 1.40000.
Look for selling opportunities of GBP/USD if it breaks the support zone of 1.38000.
During the testimony yesterday, Bank of England Governor Bailey highlighted that the central bank does not think that the current level of inflation will be persistent. Also, Governor Bailey said that during the August monetary policy meeting, half of the committee members felt that the minimum necessary conditions were met to hike rates while the other half felt otherwise.
Currently, GBP/USD is testing the support zone of 1.38000 and the next resistance zone is at 1.40000.
Look for selling opportunities of GBP/USD if it breaks the support zone of 1.38000.
The sentence:
"Currently, GBP/USD is testing the support zone of 1.38000 and the next resistance zone is at 1.40000."
should read:
"GBP/USD's next support zone is at 1.36000 and the next resistance zone is at 1.38000."
Apologies for the typo.