Pound Sterling Price News and Forecast: GBP/USD seesaws around a fortnight high near 1.3575
|GBP/USD Price Analysis: Bulls flirt with 200-day EMA with eyes on BOE
GBP/USD seesaws around a fortnight high near 1.3575 as traders brace for the Bank of England (BOE) monetary policy decision during Thursday’s Asian session. The cable pair rose during the last four consecutive days to cross the 100-day EMA and the 50-day EMA but is struggling to surpass the 200-day EMA ahead of the key event.
GBP/USD has everything to lose from the BoE
A 25 bps interest rate hike from the Bank of England (BoE) looks almost certain on Thursday. The big question is how will the pound react to a second consecutive hike following 15 bps in December. Given so much is already priced in terms of expectations for Thursday's meeting, GBP/USD has more to lose than gain.
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