BOE monetary policy and rate decision - Saving the Pound?
Updated
On Thursday BOE will publish its rate decision and monetary policy summary.
Following latest Carney's speech, people now know that BOE is starting to monitor the currency's weakness following Brexit - They will pay attention to what BOE will have to say about it in the coming meeting.
Technically 1.21 is the current support zone. The price is holding above it and created couple of Intraday reversal signals once it touched it...
Still the price is below the Fast MA line and hasn't created any higher high or higher low till now.
With FOMC before BOE meeting we can see GBPUSD pressing down towards 1.21 again and perhaps even 1.2.
Will it be a buying opportunity towards the BOE meeting? Will be interesting to monitor - We will get a potential confirmation signal if GBPUSD will climb above the MA line for the first time since its Flash Crash.
Read more trading ideas in my newsletters (link in signature)
Following latest Carney's speech, people now know that BOE is starting to monitor the currency's weakness following Brexit - They will pay attention to what BOE will have to say about it in the coming meeting.
Technically 1.21 is the current support zone. The price is holding above it and created couple of Intraday reversal signals once it touched it...
Still the price is below the Fast MA line and hasn't created any higher high or higher low till now.
With FOMC before BOE meeting we can see GBPUSD pressing down towards 1.21 again and perhaps even 1.2.
Will it be a buying opportunity towards the BOE meeting? Will be interesting to monitor - We will get a potential confirmation signal if GBPUSD will climb above the MA line for the first time since its Flash Crash.
Read more trading ideas in my newsletters (link in signature)
Note
about 300 pips gained on GBPUSD so far.. great bullish confirmation move this week
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