Oanda Senior Market Analyst Craig Erlam says the GBP/USD is likely to consolidate in the range of 1.32-1.36. A drop to 1.30 is unlikely unless the BoE ditches the hawkish stance, while a break above 1.36 seems too much as one rate hike (BoE does not change the big picture (UK Brexit uncertainty, yield differential favours USD).
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Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.
His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.
Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.