British Pound Gains Before Brexit
FxGrow | May 24, 2016 05:01AM ET
British pound gains before Brexit
The GBP/USD rose ahead of the Bank of England (BOE) decision regarding Brexit, especially on rising expectations that the BOE is going to defend the Brexit outlook.
The GBP/USD has to break the resistance point 1.4528 in order to trigger an upward movement to touch near-term resistance levels 1.4550 and 1.4570.
However, Fed policymakers claimed that Brexit will not affect the US rate hike decision, and the US dollar will continue its bullish move on the Fed’s outlook.
Cutting the minor support 1.4455 might push the GBP/USD lower toward 1.4424 and 1.4397 respectively.
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