GBPUSD: Faces Corrective Pullback Risks Ahead Of BoE Meeting!


Outlook in GBPUSD has turned neutral with risk to the upside, support comes at the 1.3183 levels, a failure to below that level on a daily closing basis could mean a return to the 1.3345 levels, a break will restore the upside momentum and turn the focus on the 1.3482 levels, further upside, resistance stands at the 1.3658 levels.

On the downside, below 1.3183 sees a corrective pullback threats to the 1.3115/13040 levels where another rise is likely, further down, support stands at the 1.2908…

Conclusion: The GBPUSD continues to face upside threats above the 1.3183 levels, below that level sees a pullback threats to the 1.3040 levels…


1-Minor resistance comes at the 1.3227 levels (4-hour basis), above that level will pave the way to the 1.3345 levels, below that level will keep the pair under pressure and may turn lower, but remember, daily chart support comes at 1.1383 levels…

2- The Bank of England will announce its latest interest rate decision and publish the minutes of its monetary policy meeting today at 11:00 GMT. This scenario may bring a buying opportunity!


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