FX.co ★ GBP/USD

Hello everyone! On the daily GBPUSD chart the “working” fluctuation range is 1.35 - 1.33. Judging by the strength of resistance as 1.35 is approached, the bears may push GBPUSD down to 1.33. FX speculators continue to price in a possible policy easing by the Bank of England after the release of data on weakening inflation and the labor market. Today, in the second half of the day, the US weekly jobless claims (15:30 MSK) will support the US dollar. A strong labor market is forcing investors into Treasuries sold for USD ahead of the Fed meeting. The main event of the day will be the ECB meeting, which indirectly affects GBPUSD. The rate will be frozen at its previous level, but at the press conference Christine Lagarde may abandon her hawkish stance. The Eurozone economy needs a pause in monetary tightening. In that case, all European currencies will weaken.