EXNESS - Analytics

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    GBPUSD: consolidation before the Bank of England meeting

    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


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