Overall, GBP/USD is ranging across. Recently GBP/USD broke the key level of 1.39 as a result of the weakening of USD due to the dovish tone delivered by the Federal Reserve.
The Bank of England (BoE) will be announcing their monetary policy decision later at 2000 (SGT). It is expected that the central bank will be holding its monetary policy unchanged. With the increase in pace of the vaccine inoculation programme in the UK, the BoE may provide some sign of optimism.
GBP/USD’s next support zone is at 1.37800 and the next resistance zone is at 1.40000.
Look for short-term buying opportunities of GBP/USD up until the BoE’s monetary policy decision later at 2000 (SGT).
The Bank of England (BoE) will be announcing their monetary policy decision later at 2000 (SGT). It is expected that the central bank will be holding its monetary policy unchanged. With the increase in pace of the vaccine inoculation programme in the UK, the BoE may provide some sign of optimism.
GBP/USD’s next support zone is at 1.37800 and the next resistance zone is at 1.40000.
Look for short-term buying opportunities of GBP/USD up until the BoE’s monetary policy decision later at 2000 (SGT).