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).
Gold Gains Limited as ADP Nonfarm Payrolls Beats Expectations
Yellen and Draghi Headline Busy Schedule
GBP/USD – Pound Edges Higher as Services PMI Meets Expectations
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.