Overall, GBP/USD is ranging across. Recently, GBP/USD tested and failed to break below the key level of 1.23.
Yesterday, the Bank of England (BoE) kept interest rate unchanged at 0.10%. No new monetary policy was carried out as the Committee felt that the existing stance is appropriate. Nonetheless, BoE Governor Bailey said during the press conference that the BoE will consider further actions on the current £645 billion bond-buying programme in June after getting a better idea on the easing of the lockdown measure by the government.
UK banks will be closed today in observance of May Day. Expect lower trading volume and volatility from GBP during the London market session.
GBP/USD’s next support level is at 1.22400 and the next resistance level is at 1.24400.
Look for selling opportunities of GBP/USD up until the release of the U.S. jobs report at 2030 (SGT).
Yesterday, the Bank of England (BoE) kept interest rate unchanged at 0.10%. No new monetary policy was carried out as the Committee felt that the existing stance is appropriate. Nonetheless, BoE Governor Bailey said during the press conference that the BoE will consider further actions on the current £645 billion bond-buying programme in June after getting a better idea on the easing of the lockdown measure by the government.
UK banks will be closed today in observance of May Day. Expect lower trading volume and volatility from GBP during the London market session.
GBP/USD’s next support level is at 1.22400 and the next resistance level is at 1.24400.
Look for selling opportunities of GBP/USD up until the release of the U.S. jobs report at 2030 (SGT).