GBP/USD Price Analysis: 100-DMA breakout keeps buyers hopeful, BOE eyed
GBP/USD picks up bids to 1.3965 during the fourth consecutive positive day in Asia. In doing so, the cable pair cheers the previous day’s upside break of 100-day SMA (DMA) amid upbeat RSI conditions. However, bulls are chained ahead of the key monetary policy meeting of the Bank of England (BOE).
GBP/USD stays sidelined
Some BOE MPC members might feel that the time to act was approaching.
Ahead of Thursday’s key event, Bank of England (BOE) monetary policy meeting, Reuters came out with the analysis by saying, “The Bank of England will say on Thursday whether it is worried about a recent jump in inflation, which broke above the central bank's 2% target and looks set to climb higher as Britain reawakens its economy from its coronavirus slumber.”
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