Overall, GBP/USD is ranging across. Recently, GBP/USD trended lower into the support zone of 1.36000.
The UK flash PMI data will be released later at 1630 (GMT+8).
The Bank of England (BoE) will be announcing their monetary policy decision later at 1900 (GMT+8). It is expected that the central bank will be keeping monetary policy unchanged. Nonetheless, with half of the committee members back in the August meeting expressing signs of hawkishness in terms of rate hike consideration and the recent strong inflation data, pay attention to any potential hawkish tone being delivered by the BoE on the matter of quantitative easing tapering and interest rate hike.
Currently, GBP/USD is testing the support zone of 1.36000 and the next resistance zone is at 1.38000.
If the BoE were to send out any hawkish tone, look for short-term buying opportunities of GBP/USD if it bounces off the support zone of 1.36000.
The UK flash PMI data will be released later at 1630 (GMT+8).
- Flash Manufacturing PMI (Forecast: 59.0, Previous: 60.3 revised from 60.1)
- Flash Services PMI (Forecast: 55.0, Previous: 55.0 revised from 55.5)
The Bank of England (BoE) will be announcing their monetary policy decision later at 1900 (GMT+8). It is expected that the central bank will be keeping monetary policy unchanged. Nonetheless, with half of the committee members back in the August meeting expressing signs of hawkishness in terms of rate hike consideration and the recent strong inflation data, pay attention to any potential hawkish tone being delivered by the BoE on the matter of quantitative easing tapering and interest rate hike.
Currently, GBP/USD is testing the support zone of 1.36000 and the next resistance zone is at 1.38000.
If the BoE were to send out any hawkish tone, look for short-term buying opportunities of GBP/USD if it bounces off the support zone of 1.36000.
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