GBP/USD Trade Sentiment Stays Above Long-Term Support
FxGrow | Apr 11, 2016 05:38AM ET
GBP/USD trade sentiment stays above long-term support ahead of BOE meeting
GBP/USD has appreciated and traded above 1.4060 after dovish Fed comments on interest rate hike expectations this year. Sticky UK inflation will push the GBP/USD higher, and cutting 1.4190 continues increasing to 1.4220, 1.4245 and 1.4265 as next resistance levels.
However, the Bank of England (BOE) meeting this week might have a dovish tone, as the central bank is widely anticipated to retain its current policy, which will push GBP/USD lower. Breaking 1.4100 will create a downside movement again and will drive the pair toward 1.4075, 1.4045 and 1.4020 respectively.
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