The pound “bulls” has recovered some ground after the fall of GBP/USD pair to multi-year lows. The Bank of England kept its monetary policy stance unchanged, contrary to the expectations of most market participants (futures showed the likelihood of a rate cut of 86%). The interest rate remains at 0.5%, the bond purchase program recorded in the same amount – 375 billion.
The GBP/USD technical analysis and forecast for the week 18 July 2016 – 22 July 2016
Pound moved to the correction that was provided last week forecast. The RSI on the daily chart rebounded from the support level, the pair may continue. Thus, FOREX forecast GBP/USD for the week 07/18/2016 – 22/07/2016 provides for further upward movement in the region of 1.35.
