Trader, analyst and instructor with a 6-year experience

GBP/USD awaits clear signals

By Felipe Erazo

Today's session will be important for the GBPUSD, but do not expect major news, because today will be the Bank Of England’s meeting on interest rates, which hope to stay at 0.50% shall be made, so that the GBPUSD may suffer some volatility during this meeting, but no major changes in its general trend.

Now, the GBPUSD is trying to consolidate above the 61.8 Fibo level at 1.7143 and the pair is trying to make a breakout on the resistance level of 1.7158. If successful, it is expected to rise to the level of 1.7178. However, it is very likely that the GBPUSD made ​​a pullback at current levels and fall to the support level of 1.7107.

Trading recommendations: We don’t recommend trades for today in the GBPUSD, because there are no clear patterns at the moment for do a good intraday trading on this pair.

Chart. H1 GBP/USD

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