Forex Signal For GBP/USD: Possibly Drop to 1,200 Before BoE Decision
Forex Signal For GBP/USD: Possibly Drop to 1,200 Before BoE Decision
The pair will likely continue to decline as long as sellers aim the next key support at 1,200.
Bear Market Outlook
- Sell the GBP/USD pair and take profit at 1,2000.
- Add a stop-loss at 1,2230.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Possibly Drop to 1,200 Before BoE Decision
Bull Market Outlook
- Take a buy stop at 1,2200 and a profit at 1,2300.
- Add a stop-loss at 1,2100.
GBP/USD is trading under pressure at 1,2152 during the Asian session as traders await the Bank of England (BoE) decision and US nonfarm payroll (NFP) data.
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