BOE monetary policy
As inflation was running high in the UK, the market was pricing BOE to announce fresh clues /hints on the timetable on scaling back of bond purchase.
BOE didn't indicate any timetable on the further reduction in the bond purchase, since May's meeting.
Due to the rise of a number of covid cases over the past week, on Sat the number of new cases per day on the weekend was around 18k, due to the sharp rise in the number of cases, the reopening plans might be delayed to after 19 July 2021, which might be negative for the pound.
My opinion is that GBP/USD might be slightly bearish in the short term.
On the higher timeframe the daily chart, the trend is still up.
Disclaimer: what is written is purely my opinion, follow at your own risk.
I do not represent any company or any broker.
As inflation was running high in the UK, the market was pricing BOE to announce fresh clues /hints on the timetable on scaling back of bond purchase.
BOE didn't indicate any timetable on the further reduction in the bond purchase, since May's meeting.
Due to the rise of a number of covid cases over the past week, on Sat the number of new cases per day on the weekend was around 18k, due to the sharp rise in the number of cases, the reopening plans might be delayed to after 19 July 2021, which might be negative for the pound.
My opinion is that GBP/USD might be slightly bearish in the short term.
On the higher timeframe the daily chart, the trend is still up.
Disclaimer: what is written is purely my opinion, follow at your own risk.
I do not represent any company or any broker.