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Forex pairs in this Article » GBP/USD (Edinburgh) -The sterling continues to inch higher on Thursday, with the GBP/USD toying with 1.6090 as we get closer to the BoE MPC meeting.

GBP/USD BoE is not the issue, Payrolls are

Market consensus places the possibility of a change in either the BoE’s lending benchmark or the asset purchase program close to (if not) zero today, leaving investors free to shift their focus on tomorrow’s Payrolls in the US economy as the main driver for the pair. According to Flemming Nielsen, Analyst at Danske Bank, “Unchanged asset purchases and rates should attract little attention. Here focus is on the inflation report next week that could be quite interesting in light of the continued strong numbers out of the UK. We see potential for a further move lower in EUR/GBP over the next month”.

GBP/USD key levels

As of writing the pair is now flat at 1.6083 facing the next up barrier at 1.6118 (high Nov.6) followed by 1.6122 (61.8% of 1.6258-1.5904) and then 1.6143 (high Oct.29). On the downside, a dip beyond 1.6063 (A10d) would bring 1.6043 (low Nov.6) and finally 1.6000 (psychological level).
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