GBPUSD Range Intact Ahead of Next Week’s BoE Decision

GBPUSD Range Intact Ahead of Next Week’s BoE Decision

9 April 2016, 06:43
Francis Dogbe
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GBPUSD is on the brink of finishing another week in the red. The pair has now spent the better part of ten months trending lower, not including the selloff that began in July of 2014. I commented on the pound last Friday ahead of non-farm payrolls and asked the question, will NFP confirm the 730-pip reversal pattern? We now know that it did not confirm a reversal and instead sent the pair lower by 180 pips following the announcement. However, in that same commentary, I also noted that 1.4050 would be the deciding factor between a bullish reversal or continued weakness in the days and weeks ahead. Sure enough, the ... READ MORE
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