Register Register

Chinese (Simplified)

December 17, 2020

Sterling Rises Sharply Ahead of U.K.’s Interest Rate Decision, 75+ PIP Volatility Likely in GBP Parity; Dec 17, 2020

U.K. Official Bank Rate Decision

U.K. will publish key interest rate around 1200 GMT/1730 IST. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.

Markets expect no changes in the Monetary Policy as well as Interest Rate too. In addition Brexit deadline is also having only 2 week time line only. Last month, the BoE said it was “Ready to take whatever additional action is necessary to achieve its remit”. For now, with a Brexit deal still having hope and COVID-19 vaccines being successfully administered in U.K., the MPC is likely to be relatively calm about the outlook.

Let’s see how GBP has reacted during the previous data release:

Nov 05:

Sept 17:

Technical View:

GBP/USD: The sterling continues to trade higher ahead of U.K.’s interest rate decision. This is the highest level since May 2018. Today pair made intraday high at $1.3586 and low at $1.3490 mark. A sustained close above $1.3507 will drag the parity up towards $1.3555, $1.3586, $1.3612, $1.3632, $1.3667 and $1.3722 mark respectively. Key support levels are seen at $1.3490, $1.3430, $1.3375, $1.3322, $1.3290, $1.3263, $1.3222 and $1.3170 marks respectively.

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills

Registered office:

No. 9 Cassius Webster Building, Grace Complex, PO Box 1330,
The Valley, Al-2640 Anguilla

Physical Offices

1001 Crystal Tower, Business Bay, Dubai, UAE
Contact Number : +97144508205

Mail us

Drop mail at: support@tpglobalfx.com

Contact us

Call or Whatsapp +44 7441 416320

Sales Queries

Drop mail at: sales@tpglobalfx.com

Offices

Vanuatu office:
Law Partners House, Kumul Highway, PortVila, Vanuatu

Offices

Head office:
1810, 1811, Prime Tower,
Business Bay, Dubai, UAE

Instrument

Platforms & Tools

Partnership

Company

Others

© 2022 TP Global. All right reserved.

Baybahis Hititbet 1win Elitbahis Matadorbet

Privacy Policy | Terms & Conditions |Product Statement | Client Agreement | AML/KYC | Refund Policy

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. This site is run and operated by – TP Global Services Limited. Registered by Anguilla with a registered address : No. 9 Cassius Webster Building, Grace Complex, PO Box 1330, The Valley, Al-2640 Anguilla.

Restricted Regions: TP Global Services Limited does not provide services for citizens/residents of the United States, Canada, Cuba, Iraq, Myanmar, North Korea, Sudan.

Risk Warning: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. This site is run and operated by – TP Global Services Limited registered by St. Vincent and the Grenadines with Number 25274 BC 2019. Registered office: Suite 305, Griffith Corporate Centre, Beachmont, P.O.Box 1510, Kingstown Saint Vincent and the Grenadines.

TP GLOBAL FX is monitored by VFSC Vanuatu with registration number 40409 and located at Law Partners House, Kumul Highway, PortVila, Vanuatu.

TP Global Fx Africa Limited is incorporated in Federal Republic of Nigeria under the Companies and Allied matters Act 1990 with registration number RC 1674202. The objects of the company are all subject matters not forbidden by Companies and Allied Matters Act 1990. To provide Electronic Platform through which clients can choose currencies, commodities, indexes, CFDs and other leveraged financial instruments to trade.