Overall, GBP/USD is ranging across.
The Bank of England (BoE) will be announcing its monetary policy decision later at 1900 (SGT). It is expected that the central bank will be holding its monetary policy unchanged. With the decline in the number of COVID-19 cases and the resumption of economic activities, the central bank may cut back on its quantitative easing and revise its economic projections upwards.
Currently, GBP/USD is testing to break above the key level of 1.39. Its next support zone is at 1.38000 and the next resistance zone is at 1.40000.
If the BoE express signs of hawkishness such as reducing or planning to reduce quantitative easing and upgrading its economic projections, look for buying opportunities of GBP/USD if it breaks above the key level of 1.39.
The Bank of England (BoE) will be announcing its monetary policy decision later at 1900 (SGT). It is expected that the central bank will be holding its monetary policy unchanged. With the decline in the number of COVID-19 cases and the resumption of economic activities, the central bank may cut back on its quantitative easing and revise its economic projections upwards.
Currently, GBP/USD is testing to break above the key level of 1.39. Its next support zone is at 1.38000 and the next resistance zone is at 1.40000.
If the BoE express signs of hawkishness such as reducing or planning to reduce quantitative easing and upgrading its economic projections, look for buying opportunities of GBP/USD if it breaks above the key level of 1.39.
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