The BoE announces rates today and the consensus is that they will keep interest rates at 5.75%
Yesterday was mostly consolidation with price making intraday lows near the end of the US session. We can only speculate that this was due to profit taking before that rate announcement.
The trend is bullish and we still project that price will reach the 2.0650 high soon. The other scenario is that the BoE might revert to a more definite dovish tone. If the latter happens we can see a pullback to the 2.0200 support
Disclaimer: All statements and expressions in this analysis are opinions, and not meant as investment advice or solicitation. Forex can be volatile and opinions may change without notice
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