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:

June 16:

May 05:

Technical View:


  • 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.
$1.2130 $1.2174
$1.2102 $1.2205
$1.2078 $1.2240
$1.2055 $1.2265
$1.2012 $1.2292


Take a look and do trade wisely!
Good Luck