- Cable is little changed on the day awaiting the BOE
With the BOE in focus, let’s take a look at the levels in play for GBP/USD and how the decision might affect sterling.
On Friday, the pair surged to test the 50.0 Fib retracement level at 1.2596 before retracting. This week, with the dollar showing signs of stability, we observe a slight decline below the 1.2500 threshold. Additionally, the inability to firmly surpass the green zone (represented by the green blocks) will maintain sellers for the time being that’s to say USD gaining strenght again .
