GBPUSD STILL BEARISH AHEAD OF BOE MEETING
The British pound continues to trade to the downside against the U.S dollar, after the pair was sold aggressively from the 1.3606 level on Wednesday. The GBPUSD pair currently trades around the 1.3560 level, after running into strong technical selling ahead of today’s Bank of England Policy Meeting. Traders are likely to remain focused on the 1.3500-1.3600 trading-range, ahead of today’s crucial interest rate decision and policy statement from the BOE.
The GBPUSD pair remains bearish while trading below the 1.3592 level. Key support is currently located at the 1.3542 and 1.3500 levels.
If the GBPUSD pair starts to trade above the 1.3592 level, key resistance is located at the 1.3606 and 1.3660 levels.