GBPUSD: BOE and Its Impact on GBPUSD
GBPUSD: BOE and Its Impact on GBPUSD
The Bank of England (BOE) is set to hold its interest rate at 5.0% on Thursday.
The United Kingdom’s annual inflation remained stable at 2.2% in August.
The BOE announcement is expected to create high price volatility in GBP pairs.
The BOE is widely expected to keep rates unchanged at 5% in today’s policy meeting.
In August, the BOE decreased the interest rate by 25 basis points to 5% from 5.25%.
BOE Impact on GBP/USD
If the BOE keeps rates on hold today, it will be taken as a hawkish message by market participants, potentially pushing GBP/USD up in a bullish continuation movement. GBP/USD may rise to 1.3400 and 1.3500.
If the BOE cuts interest rates today, we may see GBP/USD moving down to 1.3000.
So far, GBP/USD remains bullish, and we should wait for the news to determine the next price direction. It is expected to be an aggressive move.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
The Bank of England (BOE) is set to hold its interest rate at 5.0% on Thursday.
The United Kingdom’s annual inflation remained stable at 2.2% in August.
The BOE announcement is expected to create high price volatility in GBP pairs.
The BOE is widely expected to keep rates unchanged at 5% in today’s policy meeting.
In August, the BOE decreased the interest rate by 25 basis points to 5% from 5.25%.
BOE Impact on GBP/USD
If the BOE keeps rates on hold today, it will be taken as a hawkish message by market participants, potentially pushing GBP/USD up in a bullish continuation movement. GBP/USD may rise to 1.3400 and 1.3500.
If the BOE cuts interest rates today, we may see GBP/USD moving down to 1.3000.
So far, GBP/USD remains bullish, and we should wait for the news to determine the next price direction. It is expected to be an aggressive move.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
🚨Broken: BoE keeps rate unchanged at 5% as expected
However it was a big event without new developments.
On the 4 hour chart the price closed also a bearish pinbar candle.
Be careful as it is rising the chances to begin the bearish scenario.
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