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GBP/USD trading signal - BoE Interest Rate Decision - 02 Aug 2018

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Signal details
Entry Price: 
1.3060
Close Price: 
1.3013
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
OTM
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The British pound is trading down waiting for the Bank of England interest rate decision that is scheduled for today at 11:00 GMT. The BoE is expected to deliver a 25 basis points rate hike. We are expecting further drops and GBPUSD to test 1.3060 before it makes a correction and eventually to close higher on the day. Today, Mark Carney will also hold a press conference to justify the rate hike as the last one in 2018.

gbpusd trading signal 02 aug 2018

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.