Overall, GBP/USD is trending upwards. Recently, GBP/USD rallied and broke above the key level of 1.36.
The UK Construction PMI data (Actual: 49.2, Forecast: 53.0, Previous: 54.6) released yesterday indicated that the construction sector fell back into contraction.
During the monetary policy meeting yesterday, the Bank of England held monetary policy unchanged. Governor Bailey emphasized that the central bank is not sending any hints on the adoption of negative interest rate, leading to some optimism in GBP.
Governor Bailey will be speaking at the Monetary Policy Report National Agency Briefing later at 2015 (SGT). During this time, there may be volatility in GBP.
Also, Governor Bailey will be speaking about central banks and post-Covid recovery later at 2130 (SGT).
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 release of the U.S. jobs report later at 2130 (SGT).
The UK Construction PMI data (Actual: 49.2, Forecast: 53.0, Previous: 54.6) released yesterday indicated that the construction sector fell back into contraction.
During the monetary policy meeting yesterday, the Bank of England held monetary policy unchanged. Governor Bailey emphasized that the central bank is not sending any hints on the adoption of negative interest rate, leading to some optimism in GBP.
Governor Bailey will be speaking at the Monetary Policy Report National Agency Briefing later at 2015 (SGT). During this time, there may be volatility in GBP.
Also, Governor Bailey will be speaking about central banks and post-Covid recovery later at 2130 (SGT).
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 release of the U.S. jobs report later at 2130 (SGT).
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