INSIGHTS

Steve Miley

Thu, Jun 20


Ahead of Bank of England (BoE) Interest Rates Decision - 20.06.19

GBPUSD Aims for Key 1.2814 Resistance

• A GBPUSD rebound has chiefly been driven by wide weakness in the US Dollar.
• The Wednesday 19th June Fed Meeting saw the FOMC) signal a likely rate cut in July, with probable further cuts in 2019.
• US$ weakness has pushed GBPUSD, but also produced robust rallies in global stock indices and bond markets.
• A no deal Brexit remains a threat as Boris Johnson has a strong lead in the Conservative party leadership content, BUT GBPUSD is still targeting a key resistance at 1.2814 into today’s Bank of England Meeting.
• You can see a more in-depth look at GBPUSD here and further analysis on FXExplained.co.uk

 

 

 


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