GBPUSD: consolidation before the Bank of England meeting

GBPUSD
March 17, 2016, 09:32
Buy on a level breakthrough of 1.4290 with 1.4435 target. Stop loss = 1.4240.

Reason for the trading strategy

The weakness of the US dollar could allow the pound to test the level of 1.4435 in the near future. Today, it is worth paying attention to the Bank of England meeting, which is likely to keep the key interest rate and the volume of asset purchases unchanged.

GBPUSD, H4

GBPUSD: consolidation before the Bank of England meeting

GBPUSD: consolidation before the Bank of England meeting

GBPUSD
Feb. 4, 2016, 09:53
Buy on rebound from 1.4560 level with 1.4648 target. Stop loss = 1.4510.

Reason for the trading strategy

In January, the business activity index in the UK services sector increased from 55.5 p. to 55.6 p., and that of the United States decreased from 55.3 p. to 53.5 p. The statistics play into the hands of the pound. Today, we expect the Bank of England to keep its monetary policy unchanged. The US regulator is likely to decide on its increase to 0.75% only at the beginning of 2017.

GBPUSD, H1

GBPUSD: consolidation before the Bank of England meeting

GBPUSD: consolidation before the Bank of England meeting

GBPUSD
Jan. 14, 2016, 09:54
Sell on a level breakthrough of 1.4352 with 1.4223 target. Stop loss = 1.4402.

Reason for the trading strategy

The Bank of England meeting will be held today. Against the background of a low inflation (0.1% (y/y) in November) and the stagnation of the industrial sector of the economy, the regulator should keep its key interest rate unchanged at 0.5%. We expect it to grow only in the first half of 2017.

GBPUSD: consolidation before the Bank of England meeting