The GBP/USD pair had a bit of a neutral day with a slightly higher close as the 1.51 level offered support yet again. This area has been very strong lately, and it appears the market is trying to springboard from this point in order to have a bit of a bounce. However, the Bank of England has a monetary policy meeting today, and it’s very likely that this market will move drastically because of it. With that in mind, we are still bearish of the British pound, and would love to sell it on some type of rally. As far as buying is concerned, we would have to significantly clear the 1.55 level to be convinced to do so.
Written by FX Empire