By Robert Howard — Jun 19 - 05:56 AM
• Cable runs into resistance at 1.3434 after extending north from 1.3383
• 1.3434 was pre-Fed low Wednesday. 1.3383 was early London one-month low
• BoE is expected to leave Bank Rate at 4.25% at 1100 GMT; 7-2 MPC vote likely
• Consensus forecast among economists is for BoE to cut rates in August
• Pound might therefore strengthen on relatively hawkish hold from BoE today
• GBP/USD obstacles beyond 1.3434 include 1.3476 (Wednesday high) and 1.35
GBPUSD
(Robert Howard is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters
