GBP/USD BOE Rate Hike is Probably Priced In

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi traders,

The BOE is widely expected to hike the official bank rate on Tuesday. For that reason, the sellers might show up anytime soon.

From intraday perspective 1.3160-75 looks like a potential turning spot for the GBP/USD. In the case of bigger retracement, traders should pay attention to 1.3200-1.3210. Due to potential risk with the BOE announcement on Thursday, sellers should place their stops a bit higher around 1.3290. Intraday Targets are 1.3130 and 1.3085. Swing trade targets are 1.3060 and 1.3020. The break of 1.3020 will put the GBP/USD into a strong bearish territory, exposing 1.2950 zone.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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