The Bank of England is expected to keep rates on hold in a unanimous decision at its meeting on Thursday, as policymakers wait for the fog of the U.K.’s departure from the European Union to clear.
The UK Office for National Statistics will release data on consumer price inflation for August on Wednesday. Analysts expect annual CPI to come out at 1.9%, while core inflation is forecast to ease from 1.9% to 1.7%.
Watch out the major resistance level of 1.2502. In order for the GBPUSD upward movement to continue, it needs to rise and stay above 1.2502 on a daily basis. In this case, we will see face 1.2572 as the next resistance level. Otherwise, we will see the support level at 1.2428.
Support : 1.2428 - 1.2364 - 1.2286
Resistance : 1.2502 - 1.2572
16 Sep 19 (Mon)
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