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Sterling traders eyes are on Boe – FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the GBP/USD traded under pressure overnight, despite an uptick in UK Construction PMI readings to 64.2. Eyes are towards the BoE next week.

Key Quotes:

“BoE’s Monetary Policy meeting will take place next week, yet some voting members indicated the economy is not yet ready for a rate hike, pushing investors towards more attractive currencies”.

The 4 hours chart shows indicators also biased lower. Trading below 1.6160 immediate short term support, the pair has posted a daily low of 1.6110 which means renewed selling interest below it should see price extending towards 1.6051, past month low.

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