Markets Eye BoE’s Policy Rate Decision, High Volatility Likely in GBP Against Major Peers; Aug 04, 2022
Let’s see how GBP has reacted during the previous data release:
- The sterling moves in rigid boundaries ahead of U.K.’s policy rate decision and stabilizes around $1.2150 mark.
- Today pair made intraday high at $1.2175 and low at $1.2132 mark.
- A day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $1.2174 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.2130 will check further supports.
Take a look and do trade wisely!