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Jan 28 - 08:55 PM

GBP/USD - BoE Expected To Flag Future Cuts, As Signals Slip

By Andrew M Spencer  —  Jan 28 - 06:55 PM
  • -0.1% after closing down just 0.05, as choppy consolidation extends

  • BoE expected to stay on hold but signal a path to rate cuts on Thursday

  • Expect the BoE to remain cautious amid the current economic uncertainty

  • Charts; 5, 10 & 21 DMA ease, as 21-day Bollinger bands edge lower

  • Daily momentum studies slip - setup shows a modest downside bias

  • Targets a test of last week's 1.2650 low, with the 1.2600 range base below

  • New York's 1.2758 high is the first resistance, then last week's 1.2774 top

  • 1.2600-1.2825 seven-week range looks set to extend

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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